Call money rate, dollar remain steady
FE Report | Monday, 2 March 2009
The inter-bank call money rate retained steady level due to injection of fresh cash into the market through repurchase agreement (repo). The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of moderate demand for the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 7.50 per cent and 12.0 per cent repeating previous trading day's range.
Most deals were, however, made at rates varying between 8.0 per cent and 8.50 per cent against previous day's range of 7.50 per cent and 8.50 per cent indicating lower pressure on liquidity, they said.
The rate, however, rose above main trend with borrowing of cash by some financial institutions from inter-bank market at high rates in stray deals to meet immediate needs of their clients, fund managers said.
The central bank injected fresh cash amounting to Tk 6.75 billion through reverse repo at an interest rate of 8.75 per cent per annum to maintain demand-supply balance in the market.
The government, however, borrowed Tk 2.50 billion through auctions of treasury bills.
The dollar gained against taka and the exchange rate of the dollar ranged between Tk 68.90 and Tk 68.93 maintaining previous trading day's range.
The greenback, however, lost ground slightly in public deals and the cash dollar was transacted at rates varying between Tk 67.76 and Tk 70.85 against previous trading day's range of between Tk 67.80 and Tk 70.85.
In the informal market, the dollar was steady and it was traded mainly at rates varying between Tk 68.20 and Tk 68.40 against previous day's range of between Tk 68.20 and Tk 68.50. The informal market experienced moderate demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.2979 and Tk 1.3792.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 50.9750 and Rs 51.9750 and the Pakistani rupee between Rs 79.50 and Rs 80.20. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6365 ringgit and 3.7676 ringgit and that against the Thai currency between 35.68 baht and 36.69 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 97.4570 yen and 97.8320 yen, while the euro moved between 1.2664 dollar and 1.2683 dollar against the greenback.
As on March 01, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.49620 per cent for one month, 1.26430 per cent for three months, 1.80310 per cent for six months, 1.95620 per cent for nine months and 2.11930 per cent for twelve months.
The call rate in extreme range fluctuated mainly between 7.50 per cent and 12.0 per cent repeating previous trading day's range.
Most deals were, however, made at rates varying between 8.0 per cent and 8.50 per cent against previous day's range of 7.50 per cent and 8.50 per cent indicating lower pressure on liquidity, they said.
The rate, however, rose above main trend with borrowing of cash by some financial institutions from inter-bank market at high rates in stray deals to meet immediate needs of their clients, fund managers said.
The central bank injected fresh cash amounting to Tk 6.75 billion through reverse repo at an interest rate of 8.75 per cent per annum to maintain demand-supply balance in the market.
The government, however, borrowed Tk 2.50 billion through auctions of treasury bills.
The dollar gained against taka and the exchange rate of the dollar ranged between Tk 68.90 and Tk 68.93 maintaining previous trading day's range.
The greenback, however, lost ground slightly in public deals and the cash dollar was transacted at rates varying between Tk 67.76 and Tk 70.85 against previous trading day's range of between Tk 67.80 and Tk 70.85.
In the informal market, the dollar was steady and it was traded mainly at rates varying between Tk 68.20 and Tk 68.40 against previous day's range of between Tk 68.20 and Tk 68.50. The informal market experienced moderate demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.2979 and Tk 1.3792.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 50.9750 and Rs 51.9750 and the Pakistani rupee between Rs 79.50 and Rs 80.20. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6365 ringgit and 3.7676 ringgit and that against the Thai currency between 35.68 baht and 36.69 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 97.4570 yen and 97.8320 yen, while the euro moved between 1.2664 dollar and 1.2683 dollar against the greenback.
As on March 01, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.49620 per cent for one month, 1.26430 per cent for three months, 1.80310 per cent for six months, 1.95620 per cent for nine months and 2.11930 per cent for twelve months.