Call rate, dollar drop

FE Team | Published: June 20, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
The inter-bank call money rate fell slightly Tuesday despite withdrawal of cash through reverse repurchase agreement (repo) and Bangladesh Bank bills, fund managers said.
The rate moved between 6.50 per cent and 10.00 per cent against the previous day's range of between 6.50 per cent and 11.00 per cent.
The rates, however, moved between 6.50 per cent and 6.75 per cent in most deals against the previous day's range of between 6.50 per cent and 7.00 per cent, they said.
The call rate stayed above the bank rate of 5.00 per cent in all deals due to higher than expected pressure on liquidity, fund managers said.
Borrowing of cash by some non-banking financial institutions at high rates from the interbank market to meet immediate demands of the clients influenced the call rate to move above the normal trend, fund managers said.
The US dollar was also low against the Bangladesh taka (BDT) on the day in the inter-bank foreign exchange market. The demand for the greenback was higher, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.90 and Tk 69.03 against the previous day's range of between Tk 68.88 and Tk 69.15 in the inter-bank foreign exchange market.
The dollar, however, gained ground in public deals. The cash dollar in public deals was transacted at rates varying between Tk 67.15 and Tk 69.90 against previous day's range of between Tk 67.05 and Tk 69.90.