Bangladesh’s central bank has initiated currency swap agreements with commercial banks to address local FX market dynamics. Deals start from a minimum of 5 mln in foreign currency, with tenors ranging from 7 to 90 days. The taka will be exchanged for foreign currencies at the spot rate, with settlements at the same rate plus a swap point reflecting the interest rate difference between the 3-month SOFR for the USD and the policy rate for the taka.