Call rate eases, dollar gains

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FE Report
The inter-bank call money rate eased slightly Sunday despite withdrawal of cash through reverse repurchase agreement (repo) and treasury 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 11.50 per cent.
The rates, however, moved between 6.75 per cent and 7.00 per cent in most deals against the previous day's range of between 6.75 per cent and 7.50 per cent, they said.
The call rate remained above the bank rate of 5.00 per cent in all deals reflecting higher than expected pressure on liquidity, fund managers said.
Some non-banking financial institutions borrowed cash at high rates from the interbank market to meet urgent requirements of the clients. It forced the call rate to move above the normal trend, fund managers said.
The US dollar, however, gained ground against the Bangladesh taka (BDT) on the day in the inter-bank foreign exchange market. The demand for the greenback remained stable, fund managers said.
The market was moderately active due to weekend in the international market.