Call rate, dollar show nominal slips
FE Report | Tuesday, 3 June 2008
The inter-bank call money rate eased nominally Monday despite higher demand for cash. The US dollar also weakened slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market although the demand for the greenback increased, fund managers said.
The call rate in extreme range moved between 7.50 per cent and 17.50 per cent against previous day's range of between 8.00 per cent and 18.00 per cent.
Most deals were, however, transacted at rates between 10.00 per cent and 15.00 per cent against previous day's range of between 9.00 per cent and 14.00 per cent indicating higher pressure on liquidity.
The market was active and banks and financial institutions resorted to borrowing cash from the inter-bank market at high rates to meet urgent demands of their clients. It influenced the call rate to move at high track, sources said.
The staggered impact of injecting fresh cash of Tk 14.02 billion Sunday, including Tk 9.41 billion as liquidity support to primary dealers, into the market through repurchase agreement repo auctions at an interest rate of 8.50 per cent per annum slightly helped easing pressure on liquidity, fund managers said.
The dollar slipped against taka in the inter-bank foreign exchange market despite ample demand for cash influenced by opening of trading in international market after weekend, fund managers said.
The exchange rate of the dollar moved between Tk 68.51 and Tk 68.53 against previous trading day's range of between Tk 68.53 and Tk 68.54 in the inter-bank market.
The dollar was, however, steady in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.80 maintaining previous day's range.
In the informal market, the dollar remained steady and it was traded at rates varying between Tk 69.40 and Tk 69.80 against previous day's range of between Tk 69.30 and Tk 69.80. 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 42.42 and Rs 42.45 and the Pakistani rupee between Rs 66.82 and Rs 67.15.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2245 ringgit and 3.2250 ringgit and that against the Thai currency between 32.59 baht and 32.62 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 104.74 yen and 104.76 yen, while the euro moved between 1.5501 dollar and 1.5503 dollar against the greenback.
As on June 02, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.45750 per cent for one month, 2.68063 per cent for three months, 2.91063 per cent for six months, 2.95870 per cent for nine months and 3.16375 per cent for twelve months.
The call rate in extreme range moved between 7.50 per cent and 17.50 per cent against previous day's range of between 8.00 per cent and 18.00 per cent.
Most deals were, however, transacted at rates between 10.00 per cent and 15.00 per cent against previous day's range of between 9.00 per cent and 14.00 per cent indicating higher pressure on liquidity.
The market was active and banks and financial institutions resorted to borrowing cash from the inter-bank market at high rates to meet urgent demands of their clients. It influenced the call rate to move at high track, sources said.
The staggered impact of injecting fresh cash of Tk 14.02 billion Sunday, including Tk 9.41 billion as liquidity support to primary dealers, into the market through repurchase agreement repo auctions at an interest rate of 8.50 per cent per annum slightly helped easing pressure on liquidity, fund managers said.
The dollar slipped against taka in the inter-bank foreign exchange market despite ample demand for cash influenced by opening of trading in international market after weekend, fund managers said.
The exchange rate of the dollar moved between Tk 68.51 and Tk 68.53 against previous trading day's range of between Tk 68.53 and Tk 68.54 in the inter-bank market.
The dollar was, however, steady in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.80 maintaining previous day's range.
In the informal market, the dollar remained steady and it was traded at rates varying between Tk 69.40 and Tk 69.80 against previous day's range of between Tk 69.30 and Tk 69.80. 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 42.42 and Rs 42.45 and the Pakistani rupee between Rs 66.82 and Rs 67.15.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2245 ringgit and 3.2250 ringgit and that against the Thai currency between 32.59 baht and 32.62 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 104.74 yen and 104.76 yen, while the euro moved between 1.5501 dollar and 1.5503 dollar against the greenback.
As on June 02, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.45750 per cent for one month, 2.68063 per cent for three months, 2.91063 per cent for six months, 2.95870 per cent for nine months and 3.16375 per cent for twelve months.