Call money rate steady, dollar eases
Monday, 30 March 2009
FE Report
The inter-bank call money rate was steady Sunday, as the central bank intervened in the market to maintain demand-supply balance. The US dollar, however, eased against Bangladesh taka (BDT) in a moderately active inter-bank foreign exchange market on adequate supply of the greenback, fund managers said.
The call rate in extreme range moved mainly between 7.50 per cent and 12.0 per cent maintaining previous trading day's range.
Most deals were, however, transacted at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 7.50 per cent and 8.25 per cent reflecting almost steady pressure on liquidity, they said.
The borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, however, influenced the call rate to rise above normal level in stray deals, fund managers said.
The central bank refrained from withdrawing cash amounting to Tk 7.51 billion from the market through reverse repurchase agreement (repo) that helped in maintaining stability in the market.
The dollar weakened against taka and the exchange rate of the dollar stood at Tk 69.03 against previous trading day's range of between Tk 69.02 and Tk 69.06.
The market remained moderately active due to weekend in the international market.
The greenback, however, was steady in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 69.60 repeating previous trading day's range.
In the informal market, the dollar fell and it was traded mainly at rates varying between Tk 68.10 and Tk 68.30 against previous day's range of between Tk 68.20 and Tk 68.60. The informal market, however, experienced moderate demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.2957 and Tk 1.3559.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 51.42 and Rs 51.72 and the Pakistani rupee between Rs 79.85 and Rs 80.50. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6101 ringgit and 3.6161 ringgit and that against the Thai currency between 34.8250 baht and 35.93 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 97.7720 yen and 98.01 yen, while the euro moved between 1.3279 dollar and 1.3305 dollar against the greenback.
As on March 29, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.51810 per cent for one month, 1.22000 per cent for three months, 1.76250 per cent for six months, 1.86620 per cent for nine months and 2.01 per cent for twelve months.
The inter-bank call money rate was steady Sunday, as the central bank intervened in the market to maintain demand-supply balance. The US dollar, however, eased against Bangladesh taka (BDT) in a moderately active inter-bank foreign exchange market on adequate supply of the greenback, fund managers said.
The call rate in extreme range moved mainly between 7.50 per cent and 12.0 per cent maintaining previous trading day's range.
Most deals were, however, transacted at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 7.50 per cent and 8.25 per cent reflecting almost steady pressure on liquidity, they said.
The borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, however, influenced the call rate to rise above normal level in stray deals, fund managers said.
The central bank refrained from withdrawing cash amounting to Tk 7.51 billion from the market through reverse repurchase agreement (repo) that helped in maintaining stability in the market.
The dollar weakened against taka and the exchange rate of the dollar stood at Tk 69.03 against previous trading day's range of between Tk 69.02 and Tk 69.06.
The market remained moderately active due to weekend in the international market.
The greenback, however, was steady in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 69.60 repeating previous trading day's range.
In the informal market, the dollar fell and it was traded mainly at rates varying between Tk 68.10 and Tk 68.30 against previous day's range of between Tk 68.20 and Tk 68.60. The informal market, however, experienced moderate demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.2957 and Tk 1.3559.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 51.42 and Rs 51.72 and the Pakistani rupee between Rs 79.85 and Rs 80.50. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6101 ringgit and 3.6161 ringgit and that against the Thai currency between 34.8250 baht and 35.93 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 97.7720 yen and 98.01 yen, while the euro moved between 1.3279 dollar and 1.3305 dollar against the greenback.
As on March 29, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.51810 per cent for one month, 1.22000 per cent for three months, 1.76250 per cent for six months, 1.86620 per cent for nine months and 2.01 per cent for twelve months.