Call rate steady ahead of Eid

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FE Report
The inter-bank call money rate remained steady Monday with injection of fresh cash into the market which witnessed huge withdrawal of fund by the retail consumers due to the ensuing Eid-ul-Fitr celebration.
The central bank injected Tk 19.525 billion through repurchase agreement (repo) on the day at an annual interest rate of 8.75 per cent that helped easing pressure on liquidity.
General people thronged into the banks anticipating the day as the last working day ahead of the Eid-ul-Fitr vacation though the banks and government offices remain opened today (Tuesday).
The fund managers said the call rate mainly moved between 7.00 per cent and 12.00 per cent against previous day's range of 7.25 per cent and 12.00 per cent.
Most transactions were, however, made at rates varying between 8.00 per cent and 10.00 per cent against previous day's range of 7.50 per cent and 9.00 per cent indicating increased pressure on liquidity.
The call rate, however, moved above normal level in limited deals, as some banks and financial institutions borrowed cash from the inter-bank market at high rates to meet urgent needs of their clients, fund managers said.