Call rate, dollar ease

FE Team | Published: June 14, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
The inter-bank call money rate eased slightly Wednesday, as the liquidity position of the market improved. The demand for cash, however, remained steady, fund managers said.
The rate fluctuated between 6.75 per cent and 10.00 per cent against the previous day's range of between 8.00 per cent and 12.50 per cent.
The rates, however, moved between 7.00 per cent and 7.50 per cent in most deals against the previous day's range of between 8.50 per cent and 9.00 per cent, they said.
The call rate remained above the bank rate of 5.00 per cent in all deals indicating higher than expected pressure on liquidity, fund managers said.
Some non-banking financial institutions borrowed cash from the interbank market at high rates that influenced the rate to move above the normal trend, fund managers said.
The US dollar also weakened against the Bangladesh taka (BDT) on the day in the inter-bank foreign exchange market due to moderate demand for the greenback, fund managers said.
The greenback continued to fluctuate below Tk 69.00 level throughout the day.
The exchange rate of the dollar against the BDT ranged between Tk 68.70 and Tk 68.80 against the previous day's range of between Tk 68.80 and Tk 68.90 in the inter-bank foreign exchange market.
The dollar was, however steady in public deals. The cash dollar in public deals was transacted at rates varying between Tk 67.05 and Tk 69.90 maintaining to previous day's range.
In the informal market, the dollar, however, gained and it was traded at rates varying between Tk 70.70 and Tk 71.00 in the informal market against the previous day's range of between Tk 70.80 and Tk 71.00. The demand for the greenback was higher in the informal market, money dealers said.
The exchange rate of the Indian rupee against the taka varied between Tk 1.56 and Tk 1.71.
In the regional market, the exchange rates of the dollar against the Indian rupee fluctuated between Rs 40.85 and Rs 40.87 and the Pakistani rupee between Rs 60.65 and Rs 60.67.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4675 ringgit and 3.4725 ringgit, and that against the Thai currency between 34.61 baht and 34.64 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 122.44 yen and 122.47 yen, while the euro moved between 1.3285 dollar and 1.3287 dollar against the greenback.
As on June 13, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 5.32000 per cent for one month, 5.36000 per cent for three months, 5.40000 per cent for six months and 5.46819 per cent for twelve months.