Call rate, dollar remain unchanged
Monday, 6 October 2008
FE Report
The inter-bank call money rate remained steady Sunday despite withdrawal of cash through treasury bills. The market experienced moderate demand for fund. The US dollar also maintained stable nerve against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of lower demand for the greenback, fund managers said.
The call rate mainly moved between 7.00 per cent and 12.00 per cent repeating previous day's range.
Most transactions were, however, made at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 8.00 per cent and 10.00 per cent indicating lower pressure on liquidity.
The call rate, however, moved above normal level in stray deals with borrowing of cash by some banks and financial institutions from the inter-bank market at high rates to meet urgent needs of their clients, fund managers said.
The government borrowed Tk 7.50 billion through treasury bills on the day without putting any visible pressure on liquidity.
The dollar remained unchanged 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.
The market was moderately active due to weekend in international market.
The dollar, however, lost ground in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.75 against previous trading day's range of between Tk 67.49 and Tk 69.75.
In the informal market, the dollar was mostly steady and it was mainly traded at rates varying between Tk 70.00 and Tk 70.30 against previous day's range of between Tk 70.00 and Tk 70.40. The informal market experienced modest demand for the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka continued to fluctuate 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 46.92 and Rs 46.95 and the Pakistani rupee between Rs 77.30 and Rs 77.80. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4715 ringgit and 3.4740 ringgit and that against the Thai currency between 34.18 baht and 34.23 baht.
As on October 05, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 4.11000 per cent for one month, 4.33370 per cent for three months, 4.13120 per cent for six months, 4.07620 per cent for nine months and 4.05750 per cent for twelve months.
The inter-bank call money rate remained steady Sunday despite withdrawal of cash through treasury bills. The market experienced moderate demand for fund. The US dollar also maintained stable nerve against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of lower demand for the greenback, fund managers said.
The call rate mainly moved between 7.00 per cent and 12.00 per cent repeating previous day's range.
Most transactions were, however, made at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 8.00 per cent and 10.00 per cent indicating lower pressure on liquidity.
The call rate, however, moved above normal level in stray deals with borrowing of cash by some banks and financial institutions from the inter-bank market at high rates to meet urgent needs of their clients, fund managers said.
The government borrowed Tk 7.50 billion through treasury bills on the day without putting any visible pressure on liquidity.
The dollar remained unchanged 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.
The market was moderately active due to weekend in international market.
The dollar, however, lost ground in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.75 against previous trading day's range of between Tk 67.49 and Tk 69.75.
In the informal market, the dollar was mostly steady and it was mainly traded at rates varying between Tk 70.00 and Tk 70.30 against previous day's range of between Tk 70.00 and Tk 70.40. The informal market experienced modest demand for the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka continued to fluctuate 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 46.92 and Rs 46.95 and the Pakistani rupee between Rs 77.30 and Rs 77.80. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4715 ringgit and 3.4740 ringgit and that against the Thai currency between 34.18 baht and 34.23 baht.
As on October 05, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 4.11000 per cent for one month, 4.33370 per cent for three months, 4.13120 per cent for six months, 4.07620 per cent for nine months and 4.05750 per cent for twelve months.