Call rate, dollar move on earlier track
Tuesday, 7 October 2008
FE Report
The inter-bank call money rate maintained a steady level Monday due to injection of fresh cash into the market. 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 7.00 per cent and 12.00 per cent coinciding with the previous day's range.
Most transactions were, however, made at rates varying between 8.00 per cent and 8.50 per cent against the previous day's range between 7.50 per cent and 8.50 per cent reflecting a slightly higher pressure on liquidity.
Some banks and financial institutions, however, borrowed cash from the inter-bank market at high rates to meet urgent needs of their clients that raised the call rate above the normal level in stray deals, fund managers said.
The central bank injected fresh cash of Tk 12.105 billion through repurchase agreement at an annual interest rate of 8.75 per cent that eased some pressure on liquidity.
Dollar also maintained its steady nerve against taka and the exchange rate of the greenback stood at Tk 68.52 repeating the previous trading day's range in the inter-bank market.
The market was active due to beginning of trading in international market after weekend.
Dollar was also stable in public deals and cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.75 maintaining the previous trading day's range.
In the informal market, dollar was mostly steady and was traded at rates mainly varying between Tk 70.00 and Tk 70.25 against the previous day's range between Tk 70.00 and Tk 70.30. The informal market experienced a moderate demand for the foreign currency on the day, money dealers said.
The exchange rate of Indian rupee against taka continued to fluctuate between Tk 1.56 and Tk 1.77.
In the regional market, most currencies were steady. The exchange rate of dollar against Indian rupee moved between Rs 47.77 and Rs 47.80 and Pakistani rupee between Rs 78.37 and Rs 78.80.
The inter-bank call money rate maintained a steady level Monday due to injection of fresh cash into the market. 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 7.00 per cent and 12.00 per cent coinciding with the previous day's range.
Most transactions were, however, made at rates varying between 8.00 per cent and 8.50 per cent against the previous day's range between 7.50 per cent and 8.50 per cent reflecting a slightly higher pressure on liquidity.
Some banks and financial institutions, however, borrowed cash from the inter-bank market at high rates to meet urgent needs of their clients that raised the call rate above the normal level in stray deals, fund managers said.
The central bank injected fresh cash of Tk 12.105 billion through repurchase agreement at an annual interest rate of 8.75 per cent that eased some pressure on liquidity.
Dollar also maintained its steady nerve against taka and the exchange rate of the greenback stood at Tk 68.52 repeating the previous trading day's range in the inter-bank market.
The market was active due to beginning of trading in international market after weekend.
Dollar was also stable in public deals and cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.75 maintaining the previous trading day's range.
In the informal market, dollar was mostly steady and was traded at rates mainly varying between Tk 70.00 and Tk 70.25 against the previous day's range between Tk 70.00 and Tk 70.30. The informal market experienced a moderate demand for the foreign currency on the day, money dealers said.
The exchange rate of Indian rupee against taka continued to fluctuate between Tk 1.56 and Tk 1.77.
In the regional market, most currencies were steady. The exchange rate of dollar against Indian rupee moved between Rs 47.77 and Rs 47.80 and Pakistani rupee between Rs 78.37 and Rs 78.80.