Call rate, dollar appear soft
FE Report | Thursday, 7 August 2008
The inter-bank call money rate fell slightly Wednesday due to moderate demand for cash in the market. The US dollar also appeared soft with downward bias against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of ample liquidity, fund managers said.
The call rate moved between 7.00 per cent and 12.00 per cent against previous day's range of between 7.50 per cent and 12.00 per cent.
Most deals were, however, made at rates varying between 8.00 per cent and 9.00 per cent against previous day's range of 8.00 per cent and 8.50 per cent indicating nominally higher pressure on liquidity.
The call rate moved above main trend in stray deals with borrowing of cash at high rates by some banks and financial institutions to meet urgent needs of their clients, fund managers said.
The central bank injected fresh cash of Tk 11.54 billion, including Tk 240 million devolved to primary dealers for liquidity support, Tuesday through repurchase agreement (repo) at an annual interest rate of 6.50 per cent. It left a staggered impact on liquidity.
The dollar, however, showed a downward trend against taka and the exchange rate of the greenback moved between Tk 68.51 and Tk 68.52 against previous day's rate in the inter-bank market.
The dollar was mostly stable in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.63 maintaining previous trading day's range.
In the informal market, the dollar was also steady and it was traded at rates varying between Tk 69.70 and Tk 70.10 against previous day's range of between 69.80 and Tk 70.10. 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 continued to fluctuate between Tk 1.56 and Tk 1.77.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 42.08 and Rs 42.09 and the Pakistani rupee between Rs 72.30 and Rs 72.60. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2810 ringgit and 3.2820 ringgit and that against the Thai currency between 33.61 baht and 33.64 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 108.97 yen and 109.00 yen, while the euro moved between 1.5433 dollar and 1.5434 dollar against the greenback.
As on August 06, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.46250 per cent for one month, 2.80180 per cent for three months, 3.11370 per cent for six months, 3.18930 per cent for nine months and 3.28120 per cent for twelve months.
The call rate moved between 7.00 per cent and 12.00 per cent against previous day's range of between 7.50 per cent and 12.00 per cent.
Most deals were, however, made at rates varying between 8.00 per cent and 9.00 per cent against previous day's range of 8.00 per cent and 8.50 per cent indicating nominally higher pressure on liquidity.
The call rate moved above main trend in stray deals with borrowing of cash at high rates by some banks and financial institutions to meet urgent needs of their clients, fund managers said.
The central bank injected fresh cash of Tk 11.54 billion, including Tk 240 million devolved to primary dealers for liquidity support, Tuesday through repurchase agreement (repo) at an annual interest rate of 6.50 per cent. It left a staggered impact on liquidity.
The dollar, however, showed a downward trend against taka and the exchange rate of the greenback moved between Tk 68.51 and Tk 68.52 against previous day's rate in the inter-bank market.
The dollar was mostly stable in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.63 maintaining previous trading day's range.
In the informal market, the dollar was also steady and it was traded at rates varying between Tk 69.70 and Tk 70.10 against previous day's range of between 69.80 and Tk 70.10. 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 continued to fluctuate between Tk 1.56 and Tk 1.77.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 42.08 and Rs 42.09 and the Pakistani rupee between Rs 72.30 and Rs 72.60. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2810 ringgit and 3.2820 ringgit and that against the Thai currency between 33.61 baht and 33.64 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 108.97 yen and 109.00 yen, while the euro moved between 1.5433 dollar and 1.5434 dollar against the greenback.
As on August 06, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.46250 per cent for one month, 2.80180 per cent for three months, 3.11370 per cent for six months, 3.18930 per cent for nine months and 3.28120 per cent for twelve months.