Call rate, dollar stay on steady track
FE Report | Wednesday, 27 August 2008
The inter-bank call money rate was unchanged Tuesday, despite higher demand for fund, mainly due to injection of fresh cash into the market. The US dollar remained stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of steady supply of the greenback, fund managers said.
The call rate moved between 7.25 per cent and 12.00 per cent maintaining previous day's range.
Most deals were 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 9.00 per cent posing decreased pressure on liquidity.
The call rate rose above main trend in some stray deals, as some banks and financial institutions had to borrow cash at high rates to meet urgent needs of their clients, fund managers said.
The central bank injected Tk 6.495 billion through repurchase agreement (repo) at an annual interest rate of 8.50 per cent that improved liquidity position and helped maintaining demand-supply balance, they said.
The central bank also refrained from accepting reverse repo auction for ensuring market stability.
The dollar maintained its stable tone against taka and the exchange rate of the greenback stood at Tk 68.52 repeating previous trading day's rate in the inter-bank market.
The dollar, however, appeared stronger in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.90 against previous trading day's range of between Tk 67.42 and Tk 69.80.
The call rate moved between 7.25 per cent and 12.00 per cent maintaining previous day's range.
Most deals were 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 9.00 per cent posing decreased pressure on liquidity.
The call rate rose above main trend in some stray deals, as some banks and financial institutions had to borrow cash at high rates to meet urgent needs of their clients, fund managers said.
The central bank injected Tk 6.495 billion through repurchase agreement (repo) at an annual interest rate of 8.50 per cent that improved liquidity position and helped maintaining demand-supply balance, they said.
The central bank also refrained from accepting reverse repo auction for ensuring market stability.
The dollar maintained its stable tone against taka and the exchange rate of the greenback stood at Tk 68.52 repeating previous trading day's rate in the inter-bank market.
The dollar, however, appeared stronger in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.90 against previous trading day's range of between Tk 67.42 and Tk 69.80.