Call rate, dollar move at steady level
Monday, 11 May 2009
FE Report
The inter-bank call money rate was steady Sunday despite withdrawal of cash fro the market through treasury bills. The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market on moderate demand for the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 0.25 per cent and 10.0 per cent maintaining previous trading day's range.
Most deals were, however, made at rates varying between 0.25 per cent and 0.50 per cent against previous day's range of 0.30 per cent and 0.50 per cent that evidently reflected steady pressure on liquidity, they said.
The rate, however, moved above normal trend in stray deals due to borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients. The non-banking financial institutions mainly borrowed cash at rates swinging between 7.0 per cent and 10.0 per cent, fund managers said.
The government borrowed Tk 8.0 billion through auctions of treasury bills on the day.
The central bank, however, refrained from accepting reverse repurchase agreement amounting to Tk 6.20 billion.
The dollar maintained a stable tone against taka and the exchange rate of the greenback ranged between Tk 69.02 and Tk 69.03.
The market was moderately active due to weekend in international market.
The greenback also remained stable in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 70.05 maintaining previous trading day's range.
In the informal market, the dollar weakened and it was traded mainly at rates varying between Tk 69.20 and Tk 69.50 against previous day's range of between Tk 69.40 and Tk 69.70. The informal market experienced lower demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3515 and Tk 1.4342.
The inter-bank call money rate was steady Sunday despite withdrawal of cash fro the market through treasury bills. The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market on moderate demand for the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 0.25 per cent and 10.0 per cent maintaining previous trading day's range.
Most deals were, however, made at rates varying between 0.25 per cent and 0.50 per cent against previous day's range of 0.30 per cent and 0.50 per cent that evidently reflected steady pressure on liquidity, they said.
The rate, however, moved above normal trend in stray deals due to borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients. The non-banking financial institutions mainly borrowed cash at rates swinging between 7.0 per cent and 10.0 per cent, fund managers said.
The government borrowed Tk 8.0 billion through auctions of treasury bills on the day.
The central bank, however, refrained from accepting reverse repurchase agreement amounting to Tk 6.20 billion.
The dollar maintained a stable tone against taka and the exchange rate of the greenback ranged between Tk 69.02 and Tk 69.03.
The market was moderately active due to weekend in international market.
The greenback also remained stable in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 70.05 maintaining previous trading day's range.
In the informal market, the dollar weakened and it was traded mainly at rates varying between Tk 69.20 and Tk 69.50 against previous day's range of between Tk 69.40 and Tk 69.70. The informal market experienced lower demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3515 and Tk 1.4342.