Call money rate steady, dollar stable
Monday, 24 November 2008
FE Report
The inter-bank call money rate remained steady Sunday despite withdrawal of cash through treasury bills. The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to moderate demand for the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 6.00 per cent and 12.00 per cent against previous day's range of between 6.25 per cent and 12,00 per cent.
Most deals were, however, transacted at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 7.00 per cent and 8.00 per cent indicating increased pressure on liquidity, they said.
The call rate, however, rose above main level in stray deals with borrowing of cash by some banks and financial institutions at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.
The government borrowed Tk 4.00 billion on the day through auctions of treasury bills creating nominal pressure on liquidity.
The dollar remained unchanged against taka in the inter-bank market and the exchange rate of the greenback stood at 68.75 maintaining previous trading day's rate.
The market was moderately active due to weekend in international market.
The greenback, however, slightly gained ground in public deals and the cash dollar was transacted at rates varying between Tk 67.80 and Tk 70.85 against previous trading day's range of between Tk 67.67 and Tk 70.85.
In the informal market, the dollar was mostly steady and it was traded mainly at rates varying between Tk 70.00 and Tk 70.30 against previous day's range of between Tk 70.00 and Tk 70.20. The informal market experienced steady demand for the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3670 and Tk 1.3697.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 49.91 and Rs 49.92 and the Pakistani rupee between Rs 79.37 and Rs 79.75. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6225 ringgit and 3.6250 ringgit and that against the Thai currency between 35.24 baht and 35.29 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied Friday between 95.95 yen and 95.98 yen, while the euro moved between 1.2595 dollar and 1.2598 dollar against the greenback.
As on November 23, 2008, the London Inter-bank Offered Rates (LIBO0R) against the US dollar were 1.39500 per cent for one month, 2.15750 per cent for three months, 2.56880 per cent for six months and 2.73630 per cent for twelve months.
The inter-bank call money rate remained steady Sunday despite withdrawal of cash through treasury bills. The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to moderate demand for the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 6.00 per cent and 12.00 per cent against previous day's range of between 6.25 per cent and 12,00 per cent.
Most deals were, however, transacted at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 7.00 per cent and 8.00 per cent indicating increased pressure on liquidity, they said.
The call rate, however, rose above main level in stray deals with borrowing of cash by some banks and financial institutions at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.
The government borrowed Tk 4.00 billion on the day through auctions of treasury bills creating nominal pressure on liquidity.
The dollar remained unchanged against taka in the inter-bank market and the exchange rate of the greenback stood at 68.75 maintaining previous trading day's rate.
The market was moderately active due to weekend in international market.
The greenback, however, slightly gained ground in public deals and the cash dollar was transacted at rates varying between Tk 67.80 and Tk 70.85 against previous trading day's range of between Tk 67.67 and Tk 70.85.
In the informal market, the dollar was mostly steady and it was traded mainly at rates varying between Tk 70.00 and Tk 70.30 against previous day's range of between Tk 70.00 and Tk 70.20. The informal market experienced steady demand for the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3670 and Tk 1.3697.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 49.91 and Rs 49.92 and the Pakistani rupee between Rs 79.37 and Rs 79.75. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6225 ringgit and 3.6250 ringgit and that against the Thai currency between 35.24 baht and 35.29 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied Friday between 95.95 yen and 95.98 yen, while the euro moved between 1.2595 dollar and 1.2598 dollar against the greenback.
As on November 23, 2008, the London Inter-bank Offered Rates (LIBO0R) against the US dollar were 1.39500 per cent for one month, 2.15750 per cent for three months, 2.56880 per cent for six months and 2.73630 per cent for twelve months.