The crawling peg method was to be followed by government policymakers to maintain control over the market.

The central bank board meeting on Sunday adopted the draft of the monetary policy as part of the preparation.

Ahead of the monetary policy announcement, officials who attended the board meeting informed the media that since the foreign currency market is still unstable, the exchange rates would not be truly market-based.

The crawling peg method was to be followed by government policymakers to maintain control over the market.

Crawling pegs aid in managing the flow of currency, particularly in situations where devaluation is a possibility. Stability is the goal of creeping pegs, according to a Bangladesh Bank official who was involved in the monetary policy statement's development.

Controlling the rising inflation, which has been a major concern for the past eight months, will be the main goal of monetary policy.

Economist and co-founder of PRI Dr Sadiq Ahmed, Director General of the Bangladesh Institute of Development Research (BIDS) Binayak Sen, and Chairman of the Economics Department of the Dhaka University Masuda Yasmin are in the monetary policy committee.

End//voice7news.tv