Call rate, dollar maintain steady level
Friday, 17 October 2008
FE Report
The inter-bank call money rate was mostly steady Thursday although the central bank withdrew large amount of cash through its tools. The US dollar also remained stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market with adequate supply of the greenback, fund managers said.
The call rate moved mainly between 6.25 per cent and 11.50 per cent against previous day's range of between 6.25 per cent and 11.06 per cent.
Most transactions were, however, made at rates varying between 6.50 per cent and 7.50 per cent against previous day's range of 7.00 per cent and 8.00 per cent indicating state of comfortable liquidity in the market.
The call rate, however, rose above main trend 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 central bank withdrew Tk 13.12 billion through reverse repurchase agreement (repo) at an annual interest rate of 6.50 per cent that created negligible pressure on liquidity.
The dollar maintained its stable face against taka in the inter-bank market and the exchange rate of the greenback stood at Tk 68.52 coinciding with previous trading day's rate.
The greenback remained steady at high level in public deals and the cash dollar was transacted at rates varying between Tk 67.52 and Tk 70.65 against previous trading day's range of between Tk 67.55 and Tk 70.65.
In the informal market, the dollar, was steady and it was traded mainly at rates varying between Tk 70.10 and Tk 70.30 against previous day's range of between Tk 70.00 and Tk 70.30. The informal market experienced moderate 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 weakened. The exchange rate of the dollar against the Indian rupee moved between Rs 48.69 and Rs 48.73 and the Pakistani rupee between Rs 81.00 and Rs 82.00. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.5240 ringgit and 3.5255 ringgit and that against the Thai currency between 34.24 baht and 34.26 baht.
The inter-bank call money rate was mostly steady Thursday although the central bank withdrew large amount of cash through its tools. The US dollar also remained stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market with adequate supply of the greenback, fund managers said.
The call rate moved mainly between 6.25 per cent and 11.50 per cent against previous day's range of between 6.25 per cent and 11.06 per cent.
Most transactions were, however, made at rates varying between 6.50 per cent and 7.50 per cent against previous day's range of 7.00 per cent and 8.00 per cent indicating state of comfortable liquidity in the market.
The call rate, however, rose above main trend 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 central bank withdrew Tk 13.12 billion through reverse repurchase agreement (repo) at an annual interest rate of 6.50 per cent that created negligible pressure on liquidity.
The dollar maintained its stable face against taka in the inter-bank market and the exchange rate of the greenback stood at Tk 68.52 coinciding with previous trading day's rate.
The greenback remained steady at high level in public deals and the cash dollar was transacted at rates varying between Tk 67.52 and Tk 70.65 against previous trading day's range of between Tk 67.55 and Tk 70.65.
In the informal market, the dollar, was steady and it was traded mainly at rates varying between Tk 70.10 and Tk 70.30 against previous day's range of between Tk 70.00 and Tk 70.30. The informal market experienced moderate 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 weakened. The exchange rate of the dollar against the Indian rupee moved between Rs 48.69 and Rs 48.73 and the Pakistani rupee between Rs 81.00 and Rs 82.00. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.5240 ringgit and 3.5255 ringgit and that against the Thai currency between 34.24 baht and 34.26 baht.