Call rate, dollar remain steady

FE Report brThe inter-bank call money rate remained unchanged Sunday in an active market featuring higher demand for cash. The US dollar was stable against Bangladesh taka (BDT) in the moderately active inter-bank foreign exchange market, fund managers said.brThe call rate moved between 4.00 per cent and 12.00 per cent maintaining previous day's range.brMost deals were made at rates varying between 6.00 per cent and 7.50 per cent against previous day's range of 6.00 per cent and 7.00 per cent that indicated lower pressure on liquidity.brSome banks and financial institutions had to borrow cash at high rates to meet urgent needs of their clients and this raised the call rate above normal level in stray deals, fund managers said.brThe central bank injected fresh cash of Tk 4.03 billion through repurchase agreement (repo) auctions at an annual interest rate of 8.50 per cent. It reduced some pressure on liquidity and helped maintaining balance between demand and supply, they said.brThe dollar was steady with upward bias against taka and the exchange rate of the greenback stood at Tk 68.52 against previous trading day's range of between Tk 68.51 and Tk 68.52 in the inter-bank market.brThe market was moderately active due to weekend in international market.brThe dollar, on the other hand, weakened in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 70.00 against previous trading day's range of between Tk 67.42 and Tk 70.20.brIn the informal market, the dollar was mostly steady and it was mainly traded at rates varying between Tk 70.00 and Tk 70.20 against previous day's range of between 69.90 and Tk 70.20. The informal market experienced steady demand for the foreign currency on the day, money dealers said.brThe exchange rate of the Indian rupee against the taka continued to fluctuate between Tk 1.56 and Tk 1.77.brIn the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 43.92 and Rs 43.95 and the Pakistani rupee between Rs 75.95 and Rs 76.30. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.3965 ringgit and 3.3975 ringgit and that against the Thai currency between 34.20 baht and 34.25 baht.brIn the international market, the exchange rate of the dollar against the Japanese yen mainly varied Friday between 108.78 yen and 108.81 yen, while the euro moved between 1.4673 dollar and 1.4676 dollar against the greenback.brAs on August 31, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.48560 per cent for one month, 2.81060 per cent for three months, 3.11750 per cent for six months, 3.15310 per cent for nine months and 3.20690 per cent for twelve months.