Inter-bank call-money rates moved up further Wednesday following higher withdrawals of cash from banks on two religious festivals.
The central bank has asked the commercial banks to make sure cash is available round-the-clock at all ATMs (Automated Teller Machine) during the Eid-ul-Azha and Durga Puza holidays.
"The call-money rates increased slightly due mainly to higher demand for cash from the banks on the religious festivals," a senior treasury official of a leading private commercial bank told the FE.
He also said the rate might rise further Thursday (today), the last working day before the Eid festival.
The call rate ranged between 6.00 per cent and 9.25 per cent on the day against the previous range between 5.75 per cent and 9.00 per cent.
However, most of the deals were settled at rates varying between 8.25 per cent and 9.25 per cent, the market operators said.
The weighted average rate of the call money rose to 8.52 per cent on the day from 8.24 per cent of the previous working day, according to the Bangladesh Bank (BB) statistics.
On the other hand, the total turnover in the call-money market rose to Tk 81.84 billion on the day from Tk 74.97 billion Tuesday last, the BB data showed.
The central bank is strengthening injection of fresh funds through assured liquidity support to the banks aiming to keep the money market stable.
"We're providing funds regularly to the banks in line with their requirements to keep the money market stable ahead of the Eid festival," a BB senior official told the FE.
He also said such liquidity support would be continued in line with the market requirement.
As part of the move, the BB injected fresh funds worth Tk 85.98 billion on the day through special liquidity support to the primary dealer (PD) and non-PD banks.
On September 30, the central bank provided funds worth Tk 64.61 billion through the same mechanism, according to the BB official.
On the other hand, the central bank Wednesday asked the commercial banks to make sure cash is available round-the-clock at all ATMs during the holidays.
The scheduled banks will remain closed from October 5 to October 7 on the occasions of holy Eid-ul-Azha and Durga Puja.
"We've taken measures to ensure the electronic transactions particularly during the Eid vacation," another BB official said.
He also said such transactions normally increase significantly during the weekend and other holidays.
"We've also asked the banks to take adequate security measures at their ATM booths for avoiding any untoward incident," the central banker noted.
Currently, more than 5,000 ATM booths are in operation across the country. Dutch-Bangla Bank Limited (DBBL) alone operates 2,800 of them.
Besides, the DBBL operates around 800 'Fast Track', booths each having at least 4 ATM machines.
"We've already taken measures to meet the growing demand for cash during the Eid vacation," Shahazada Basunia, vice-president (head of marketing and public relations) of the DBBL, told the FE.
Meanwhile UNB adds, Branches of scheduled banks in industrial zones, particularly in the capital, Ashulia, Tongi, Gazipur, Savar, Narayanganj and Chittagong, will remain open on Saturday, usually an official holiday, to facilitate payment of RMG workers' salaries. A Bangladesh Bank circular Wednesday asked the banks to keep the branches open from 10am to 1pm with adequate security. Meanwhile, the banks have been directed not to involve the Hindu employees in work on the day as Durga Puja, the largest religious festival of the community, will end on the day through immersion of goddess Durga.
The central bank also advised the banks to pay due remuneration to their staff for working on the holiday.
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