Bangladesh Bank purchased $474 million from commercial banks in a buying spree prompted by a sharp fall in the US dollar rate. The central bank bought $313 million from 22 commercial banks in an auction on Tuesday (Jul. 15), where the cut-off rate was Tk 121.5 per dollar. Due to the central bank's intervention, the inter-bank exchange rate (selling) stood at Tk 121.5 at the end of trading on Tuesday, up from Tk 120.1 a day earlier.

Over the past week, the exchange rate of the American greenback continued to fall against the local currency. To tackle the sharp fall, the banking regulator on July 13 bought $171 million from 18 commercial banks through an auction - the first such move under the floating rate system. Central bank sources said they acted to rein in 'excess volatility', but some economists criticised the move, saying a fall in the exchange rate could have helped tame inflation.

Commerce Adviser Sheikh Bashir Uddin has said that the interim government is preparing for a third round of talks with Washington, with hopes of reaching a consensus before the 1 August deadline. The adviser had returned earlier from the US after leading a team for official negotiation with the US government from July 9-11. He mentioned that the US has raised several matters involving the National Board of Revenue (NBR) and other ministries, necessitating internal discussions to gather their perspectives.

When asked whether Bangladesh expects a reduction in the 35% additional tariff imposed by the Trump administration, Bashir was non-committal. "I am not sure about the reduction," he said. There is a general view that the Trump administration is using the ongoing tariff negotiations to engage in wider strategic discussions that extend beyond the scope of trade. Power and Energy Adviser Fouzul Kabir Khan said the United States initially wants a framework agreement with Bangladesh, which includes various issues, including their security concerns.

The government suspended 14 more officials of the National Board of Revenue for defying transfer orders and allegedly tearing up their transfer letters in public. The action came after the government recently sent four senior NBR officials into retirement in "public interest" and suspended the commissioner of the Chattogram Custom House. The suspended officials include the president and vice-president of the NBR Reform Unity Council, a platform of tax and customs officials, which staged the recent protests that disrupted exports and imports by enforcing a countrywide shutdown on June 28 and 29 to press home a set of demands.

Their demands included the removal of the NBR chairman, inclusion of their representatives in a tax reform panel formed by the NBR, and an end to what they termed "vengeful transfers". According to the notifications, the officials not only refused to comply with the transfer order issued on June 22 but also openly expressed support for other colleagues who took similar actions.

The case concerning the brutal murder of scrap trader Lal Chand Sohag (39) in front of Mitford Hospital in the capital, which shook the nation after videos of the incident went viral, will be transferred to the Speedy Trial Tribunal, according to law advisor Professor Asif Nazrul. He stated that arrangements would be made to ensure the trial of the incident in the shortest possible time.

The brutal killing took place on July 9 in broad daylight on a busy road in front of Mitford Hospital. Before the murder, the victim was lured away, beaten and assaulted with bricks and stones, causing severe injuries to his head and other parts of the body. At one point, he was stripped naked. Some individuals were even seen jumping on his body. Certain leaders and activists of the BNP's affiliate organisations - Jubo Dal, Chhatra Dal and Swechchhasebak Dal - have been linked to the incident. According to investigators and local sources, extortion was the primary motive behind the murder.