Call rate, dollar rise

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FE Report
The inter-bank call money rate rose slightly Monday due to withdrawal of large amount of cash through reverse repurchase agreement (repo) and treasury bills, fund managers said.
The rate moved between 6.50 per cent and 11.00 per cent against the previous day's range of between 6.50 per cent and 10.00 per cent.
The rates, however, moved between 6.50 per cent and 7.00 per cent in most deals against the previous day's range of between 6.75 per cent and 7.00 per cent, they said.
The call rate remained above the bank rate of 5.00 per cent in all deals confirming higher than expected pressure on liquidity, fund managers said.
Some non-banking financial institutions had to borrow cash at high rates from the interbank market to meet immediate demands of the clients. It influenced the call rate to move above the normal trend, fund managers said.
The central bank withdrew Tk 13.92 billion against nineteen reverse repo bids at interest rate of 6.50 per cent per annum.
The government borrowed Tk 7.00 billion Sunday through auctions of treasury bills and the market felt a follow-up pressure on the liquidity, sources said.
The US dollar also gained against the Bangladesh taka (BDT) on the day in the interbank foreign exchange market. The demand for the greenback was higher due to trading in the international market, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.88 and Tk 69.15 against the previous day's range of between Tk 68.78 and Tk 69.00 in the inter-bank foreign exchange market.
The dollar was steady in public deals. The cash dollar in public deals was transacted at rates varying between Tk 67.05 and Tk 69.90 maintaining previous day's range.
In the informal market, the dollar was also steady and it was traded at rates varying between Tk 70.60 and Tk 71.00 in the informal market against the previous day's range of between Tk 70.70 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 40.72 and Rs 40.73 and the Pakistani rupee between Rs 60.60 and Rs 60.62.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4350 ringgit and 3.4362 ringgit, and that against the Thai currency between 34.61 baht and 34.63 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 123.55 yen and 123.60 yen, while the euro moved between 1.3401 dollar and 1.3403 dollar against the greenback.
As on June 18, 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, 5.40810 per cent for six months and 5.50540 per cent for twelve months.