Call rate, dollar repeat earlier rates
FE Report | Wednesday, 20 August 2008
The inter-bank call money rate remained unchanged although the central bank injected fresh cash into the market. The US dollar also maintained stable level against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to steady demand for the greenback, fund managers said.
The call rate fluctuated between 7.00 per cent and 12.00 per cent repeating previous day's range.
Most deals were made at rates fluctuating between 8.00 per cent and 9.00 per cent against previous day's range of 8.00 per cent and 9.50 per cent projecting slightly lower pressure on liquidity.
Some banks and financial institutions borrowed cash at high rates in stray deals to meet urgent needs of their clients. It raised the call rate above normal level, fund managers said.
The central bank injected fresh cash of Tk 11.5125 billion through repurchase agreement (repo) at an annual interest rate of 8.50 per cent that eased some pressure on liquidity.
It, however, withdrew Tk 4.00 billion conducting auctions of Five-year Bangladesh Government Treasury Bond at an interest rate of 10.60 per cent per annum.
The dollar retained its stable nerve against taka and the exchange rate of the greenback stood at Tk 68.52 maintaining previous trading day's rate in the inter-bank market.
The dollar was also stable in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.80 repeating previous trading day's range.
In the informal market, the dollar remained mostly steady and it was mainly traded at rates varying between Tk 69.70 and Tk 70.10 against previous day's range of between 69.80 and Tk 70.10. The informal market experienced steady 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 43.92 and Rs 43.96 and the Pakistani rupee between Rs 74.35 and Rs 74.60. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.3455 ringgit and 3.3460 ringgit and that against the Thai currency between 34.09 baht and 34.12 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 109.83 yen and 109.86 yen, while the euro moved between 1.4674 dollar and 1.4675 dollar against the greenback.
As on August 19, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.47060 per cent for one month, 2.81000 per cent for three months, 3.13620 per cent for six months, 3.19750 per cent for nine months and 3.26310 per cent for twelve months.
The call rate fluctuated between 7.00 per cent and 12.00 per cent repeating previous day's range.
Most deals were made at rates fluctuating between 8.00 per cent and 9.00 per cent against previous day's range of 8.00 per cent and 9.50 per cent projecting slightly lower pressure on liquidity.
Some banks and financial institutions borrowed cash at high rates in stray deals to meet urgent needs of their clients. It raised the call rate above normal level, fund managers said.
The central bank injected fresh cash of Tk 11.5125 billion through repurchase agreement (repo) at an annual interest rate of 8.50 per cent that eased some pressure on liquidity.
It, however, withdrew Tk 4.00 billion conducting auctions of Five-year Bangladesh Government Treasury Bond at an interest rate of 10.60 per cent per annum.
The dollar retained its stable nerve against taka and the exchange rate of the greenback stood at Tk 68.52 maintaining previous trading day's rate in the inter-bank market.
The dollar was also stable in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.80 repeating previous trading day's range.
In the informal market, the dollar remained mostly steady and it was mainly traded at rates varying between Tk 69.70 and Tk 70.10 against previous day's range of between 69.80 and Tk 70.10. The informal market experienced steady 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 43.92 and Rs 43.96 and the Pakistani rupee between Rs 74.35 and Rs 74.60. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.3455 ringgit and 3.3460 ringgit and that against the Thai currency between 34.09 baht and 34.12 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 109.83 yen and 109.86 yen, while the euro moved between 1.4674 dollar and 1.4675 dollar against the greenback.
As on August 19, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.47060 per cent for one month, 2.81000 per cent for three months, 3.13620 per cent for six months, 3.19750 per cent for nine months and 3.26310 per cent for twelve months.