Dollar weakens, call rate steady

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FE Report
The US dollar weakened further against the Bangladesh taka (BDT) Tuesday in the inter-bank foreign exchange market with stable demand for the greenback, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.56 and Tk 68.58 against the previous day's range of between Tk 68.58 and Tk 68.61 in the inter-bank foreign exchange market.
The dollar, however, was steady in public deals. The cash dollar was transacted at rates varying between Tk 66.70 and Tk 69.90 repeating the previous day's range.
In the informal market, the dollar remained steady 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 moderate 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 rate of the dollar against the Indian rupee moved between Rs 40.26 and Rs 40.28 and the Pakistani rupee between Rs 60.40 and Rs 60.60.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4020 ringgit and 3.4050 ringgit, and that against the Thai currency between 33.60 baht and 33.64 baht.
The inter-bank call money rate remained unchanged on the day although the central bank withdrew cash through reverse repurchase agreement (repo), Bangladesh Bank (BB) bills and Bangladesh Government Treasury (BGT) bonds. The market commanded adequate liquidity to easily meet the demand for cash, fund managers said.
The call rate in its extreme range fluctuated between 6.50 per cent and 10.00 per cent maintaining the previous day's range.
The rates, however, fluctuated between 6.50 per cent and 6.70 per cent in most deals against the previous day's range of between 6.50 per cent and 6.60 per cent, they said.