Call rate closes lower, dollar steady
Wednesday, 24 December 2008
FE Report
The inter-bank call money rate closed slightly lower Tuesday with injection of fresh fund by the central bank into the market. The US dollar, on the other hand, maintained steady tone against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to sufficient inflow of the greenback, fund managers said.
The call rate in extreme range moved mainly between 8.0 per cent and 12.50 per cent against previous trading day's range of between 8.0 per cent and 13.50 per cent.
Most deals were, however, made at rates varying between 9.0 per cent and 10.0 per cent against previous day's range of 8.50 per cent and 10.0 per cent reflecting steady pressure on liquidity, they said.
The rate, however, moved above the common trend with withdrawal of cash by some banks and financial institutions at high rates in stray deals from the inter-bank market to meet urgent needs of their clients, fund managers said.
The central bank injected fresh funds worth Tk 26.032 billion through repurchase agreements at an annual interest rate of 8.75 per cent that improved the liquidity position, they said.
It, however, withdrew Tk 1.25 billion, including Tk 150 million devolved to primary dealers, through Bangladesh Government Treasury Bonds at an interest rate of 13.02 per cent per annum.
The inter-bank call money rate closed slightly lower Tuesday with injection of fresh fund by the central bank into the market. The US dollar, on the other hand, maintained steady tone against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to sufficient inflow of the greenback, fund managers said.
The call rate in extreme range moved mainly between 8.0 per cent and 12.50 per cent against previous trading day's range of between 8.0 per cent and 13.50 per cent.
Most deals were, however, made at rates varying between 9.0 per cent and 10.0 per cent against previous day's range of 8.50 per cent and 10.0 per cent reflecting steady pressure on liquidity, they said.
The rate, however, moved above the common trend with withdrawal of cash by some banks and financial institutions at high rates in stray deals from the inter-bank market to meet urgent needs of their clients, fund managers said.
The central bank injected fresh funds worth Tk 26.032 billion through repurchase agreements at an annual interest rate of 8.75 per cent that improved the liquidity position, they said.
It, however, withdrew Tk 1.25 billion, including Tk 150 million devolved to primary dealers, through Bangladesh Government Treasury Bonds at an interest rate of 13.02 per cent per annum.