Call rate, dollar unchanged

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FE Report
The inter-bank call money rate remained unchanged Wednesday clinging to earlier high level due to liquidity limitation, fund managers said.
The rate in extreme fluctuations repeated previous day's level fluctuating between 7.00 per cent and 20.00 per cent. Most deals were, however, made at rates varying between 7.00 per cent and 12.00 per cent against previous day's 12.00 per cent and 14.00 per cent indicating improved liquidity, they said.
The cash borrowed at low rate from the inter-bank market is mostly used in short-term investment that resulted in a temporary dearth of liquidity. The liquidity position will improve as soon as the cash invested return to banking channel, fund managers said.
Most of the lending banks remained less active in inter-bank market. Some commercial banks and financial institutions had to borrow cash at high rates that raised the call rate above normal trend, they said.
The US dollar was also unchanged against Bangladesh taka (BDT) in the inter-bank foreign exchange market despite higher demand for the greenback.
The inter-bank exchange rate of the greenback stood at Tk 68.58 maintaining previous day's rate, fund managers said.
The dollar, however, appeared stronger in public deals and it was exchanged at rates varying between Tk 67.25 and Tk 69.85 against previous day's range of between Tk 67.25 and Tk 69.68.
In the informal market, the dollar was steady and it was traded at rates varying between Tk 67.70 and Tk 68.20 against the previous day's range of between Tk 67.60 and Tk 68.20. The informal market experienced higher demand for the dollar on the day, money dealers said.
In the regional market, the exchange rate of the dollar against the Indian rupee moved between Rs 39.53 and Rs 39.54 and the Pakistani rupee between Rs 62.41 and Rs 62.46. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2897 ringgit and 3.2940 ringgit, and that against the Thai currency between 33.13 baht and 33.16 baht.