Call rate, dollar move at steady levels
FE Report | Monday, 16 June 2008
The inter-bank call money rate was steady Sunday although the central bank used its reverse repurchase agreement (repo) tool and treasury bills to withdraw cash from the market. The US dollar was also steady against Bangladesh taka (BDT) in the inter-bank foreign exchange market mainly due to moderate demand for the greenback, fund managers said.
The call rate in extreme range fluctuated between 7.25 per cent and 11.00 per cent against previous day's range of 7.00 per cent and 11.00 per cent.
Most deals were, however, transacted at rates between 7.50 per cent and 9.00 per cent against previous day's range of between 8.00 per cent and 10.00 per cent reflecting lower pressure on liquidity.
The central bank withdrew Tk 4.42 billion conducting reverse repo auctions at an annual interest rate of 6.50 per cent. Besides, the government borrowed Tk 9.00 billion through treasury bills without putting any apparent impact on liquidity.
The central bank, however, injected fresh cash of Tk 650 million through reverse repo at an interest rate of 8.50 per cent per annum considering adequate liquidity in the market, fund managers said.
The exchange rate of the dollar moved between Tk 68.50 and Tk 68.53 maintaining previous trading day's range in the inter-bank market.
The dollar was also stable in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.70 repeating previous trading day's range.
In the informal market, the dollar was mostly steady and it was traded at rates varying between Tk 69.60 and Tk 69.90 against previous day's range of between Tk 69.50 and Tk 69.90. 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 fluctuated 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 42.86 and Rs 42.90 and the Pakistani rupee between Rs 66.50 and Rs 66.70. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2750 ringgit and 3.2800 ringgit and that against the Thai currency between 33.17 baht and 33.30 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied Friday between 108.16 yen and 108.19 yen, while the euro moved between 1.5393 dollar and 1.5396 dollar against the greenback.
As on June 15, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.48188680 per cent for one month, 2.81375 per cent for three months, 3.25500 per cent for six months, 3.35370 per cent for nine months and 3.68125 per cent for twelve months.
The call rate in extreme range fluctuated between 7.25 per cent and 11.00 per cent against previous day's range of 7.00 per cent and 11.00 per cent.
Most deals were, however, transacted at rates between 7.50 per cent and 9.00 per cent against previous day's range of between 8.00 per cent and 10.00 per cent reflecting lower pressure on liquidity.
The central bank withdrew Tk 4.42 billion conducting reverse repo auctions at an annual interest rate of 6.50 per cent. Besides, the government borrowed Tk 9.00 billion through treasury bills without putting any apparent impact on liquidity.
The central bank, however, injected fresh cash of Tk 650 million through reverse repo at an interest rate of 8.50 per cent per annum considering adequate liquidity in the market, fund managers said.
The exchange rate of the dollar moved between Tk 68.50 and Tk 68.53 maintaining previous trading day's range in the inter-bank market.
The dollar was also stable in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.70 repeating previous trading day's range.
In the informal market, the dollar was mostly steady and it was traded at rates varying between Tk 69.60 and Tk 69.90 against previous day's range of between Tk 69.50 and Tk 69.90. 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 fluctuated 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 42.86 and Rs 42.90 and the Pakistani rupee between Rs 66.50 and Rs 66.70. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2750 ringgit and 3.2800 ringgit and that against the Thai currency between 33.17 baht and 33.30 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied Friday between 108.16 yen and 108.19 yen, while the euro moved between 1.5393 dollar and 1.5396 dollar against the greenback.
As on June 15, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.48188680 per cent for one month, 2.81375 per cent for three months, 3.25500 per cent for six months, 3.35370 per cent for nine months and 3.68125 per cent for twelve months.