Call money rate steady, dollar ends soft
FE Report | Friday, 6 March 2009
The inter-bank call money rate maintained steady level Thursday despite higher demand, as the central bank injected fresh cash into market through repurchase agreement (repo). The US dollar, however, appeared soft against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to sufficient 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, made at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 7.50 per cent and 9.0 per cent indicating slightly lower pressure on liquidity, they said.
The rate, however, moved above main trend in stray deals in which some financial institutions borrowed cash from inter-bank market at high rates to meet urgent needs of their clients, fund managers said.
The central bank injected fresh cash of Tk 2.0 billion through repurchase agreement (repo) at an interest rate of 8.75 per cent per annum to maintain balance between demand and supply in the market.
The dollar was weaker against taka and the exchange rate of the dollar stood at Tk 68.93 against previous trading day's range of between Tk 68.92 and Tk 68.96.
The greenback, however, was mostly steady 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 67.77 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 1.2994 and Tk 1.3595.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 51.43 and Rs 52.2950 and the Pakistani rupee between Rs 79.70 and Rs 80.30. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6939 ringgit and 3.7305 ringgit and that against the Thai currency between 35.83 baht and 36.43 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 98.0150 yen and 99.4890 yen, while the euro moved between 1.2455 dollar and 1.2659 dollar against the greenback.
As on March 05, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.51810 per cent for one month, 1.27660 per cent for three months, 1.81680 per cent for six months, 1.96000 per cent for nine months and 2.11500 per cent for twelve months.
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, made at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 7.50 per cent and 9.0 per cent indicating slightly lower pressure on liquidity, they said.
The rate, however, moved above main trend in stray deals in which some financial institutions borrowed cash from inter-bank market at high rates to meet urgent needs of their clients, fund managers said.
The central bank injected fresh cash of Tk 2.0 billion through repurchase agreement (repo) at an interest rate of 8.75 per cent per annum to maintain balance between demand and supply in the market.
The dollar was weaker against taka and the exchange rate of the dollar stood at Tk 68.93 against previous trading day's range of between Tk 68.92 and Tk 68.96.
The greenback, however, was mostly steady 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 67.77 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 1.2994 and Tk 1.3595.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 51.43 and Rs 52.2950 and the Pakistani rupee between Rs 79.70 and Rs 80.30. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6939 ringgit and 3.7305 ringgit and that against the Thai currency between 35.83 baht and 36.43 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 98.0150 yen and 99.4890 yen, while the euro moved between 1.2455 dollar and 1.2659 dollar against the greenback.
As on March 05, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.51810 per cent for one month, 1.27660 per cent for three months, 1.81680 per cent for six months, 1.96000 per cent for nine months and 2.11500 per cent for twelve months.