Call rate, dollar maintain steady levels
Wednesday, 31 December 2008
FE Report
The inter-bank call money rate was steady Tuesday despite higher demand for fund, as the central bank injected fresh cash into the market to ease pressure on liquidity. The US dollar also remained stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to steady demand for the greenback, fund managers said.
The call rate in extreme range moved mainly between 8.00 per cent and 12.00 per cent repeating previous trading day's range.
Most deals were, however, made at rates varying between 9.00 per cent and 12.00 per cent against previous day's range of 8.50 per cent and 9.50 per cent indicating increased pressure on liquidity, they said.
Some financial institutions borrowed cash at high rates from inter-bank market to meet urgent needs of their clients that also exerted pressure on liquidity, fund managers said.
The central bank injected fresh cash of Tk 28.65 billion into the market through repurchase agreements at an annual interest rate of 8.75 per cent that eased some pressure on liquidity, they said.
The dollar maintained stable level against taka in the inter-bank market. The exchange rate of the dollar stood at Tk 68.92 coinciding with previous trading day's rate. Most banks were in buying mood.
The greenback was also steady in public deals and the cash dollar was transacted at rates varying between Tk 67.92 and Tk 70.85 against previous trading day's range of between Tk 67.91 and Tk 70.85.
In the informal market, the dollar fell as it was traded mainly at rates varying between Tk 67.50 and Tk 68.00 against previous day's range of between Tk 67.80 and Tk 68.30. The informal market experienced higher demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3619 and Tk 1.4318.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 48.20 and Rs 50.16 and the Pakistani rupee between Rs 78.70 and Rs 79.75. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4074 ringgit and 3.5602 ringgit and that against the Thai currency between 34.41 baht and 35.58 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 89.74 yen and 90.81 yen, while the euro moved between 1.4016 dollar and 1.4364 dollar against the greenback.
As on December 30, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.46120 per cent for one month, 1.45870 per cent for three months, 1.81120 per cent for six months, 1.98120 per cent for nine months and 2.07750 per cent for twelve months.
The inter-bank call money rate was steady Tuesday despite higher demand for fund, as the central bank injected fresh cash into the market to ease pressure on liquidity. The US dollar also remained stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to steady demand for the greenback, fund managers said.
The call rate in extreme range moved mainly between 8.00 per cent and 12.00 per cent repeating previous trading day's range.
Most deals were, however, made at rates varying between 9.00 per cent and 12.00 per cent against previous day's range of 8.50 per cent and 9.50 per cent indicating increased pressure on liquidity, they said.
Some financial institutions borrowed cash at high rates from inter-bank market to meet urgent needs of their clients that also exerted pressure on liquidity, fund managers said.
The central bank injected fresh cash of Tk 28.65 billion into the market through repurchase agreements at an annual interest rate of 8.75 per cent that eased some pressure on liquidity, they said.
The dollar maintained stable level against taka in the inter-bank market. The exchange rate of the dollar stood at Tk 68.92 coinciding with previous trading day's rate. Most banks were in buying mood.
The greenback was also steady in public deals and the cash dollar was transacted at rates varying between Tk 67.92 and Tk 70.85 against previous trading day's range of between Tk 67.91 and Tk 70.85.
In the informal market, the dollar fell as it was traded mainly at rates varying between Tk 67.50 and Tk 68.00 against previous day's range of between Tk 67.80 and Tk 68.30. The informal market experienced higher demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3619 and Tk 1.4318.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 48.20 and Rs 50.16 and the Pakistani rupee between Rs 78.70 and Rs 79.75. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4074 ringgit and 3.5602 ringgit and that against the Thai currency between 34.41 baht and 35.58 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 89.74 yen and 90.81 yen, while the euro moved between 1.4016 dollar and 1.4364 dollar against the greenback.
As on December 30, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.46120 per cent for one month, 1.45870 per cent for three months, 1.81120 per cent for six months, 1.98120 per cent for nine months and 2.07750 per cent for twelve months.