Call rate, dollar steady
Thursday, 21 June 2007
FE Report
The inter-bank call money rate was steady with upward bias Wednesday despite withdrawal of cash through reverse repurchase agreement (repo). The market remained active, fund managers said.
The rate moved between 6.50 per cent and 10.50 per cent against the previous day's range of between 6.50 per cent and 10.00 per cent.
The rates, however, moved between 6.50 per cent and 7.00 per cent in most deals against the previous day's range of between 6.75 per cent and 7.00 per cent, they said.
The call rate stayed above the bank rate of 5.00 per cent in all deals reflecting higher than expected pressure on liquidity, fund managers said.
Some non-banking financial institutions borrowed cash at high rates from the inter-bank market to meet urgent demands of the clients. It forced the call rate to move above the normal trend, fund managers said.
The central bank withdrew Tk 12.96 billion against seventeen reverse repo bids of one-day tenor at interest rate of 6.50 per cent per annum.
The US dollar was steady with downward bias against the Bangladesh taka (BDT) on the day in the inter-bank foreign exchange market. The demand for the greenback was steady, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.86 and Tk 69.03 against the previous day's range of between Tk 68.90 and Tk 69.03 in the inter-bank foreign exchange market.
The inter-bank call money rate was steady with upward bias Wednesday despite withdrawal of cash through reverse repurchase agreement (repo). The market remained active, fund managers said.
The rate moved between 6.50 per cent and 10.50 per cent against the previous day's range of between 6.50 per cent and 10.00 per cent.
The rates, however, moved between 6.50 per cent and 7.00 per cent in most deals against the previous day's range of between 6.75 per cent and 7.00 per cent, they said.
The call rate stayed above the bank rate of 5.00 per cent in all deals reflecting higher than expected pressure on liquidity, fund managers said.
Some non-banking financial institutions borrowed cash at high rates from the inter-bank market to meet urgent demands of the clients. It forced the call rate to move above the normal trend, fund managers said.
The central bank withdrew Tk 12.96 billion against seventeen reverse repo bids of one-day tenor at interest rate of 6.50 per cent per annum.
The US dollar was steady with downward bias against the Bangladesh taka (BDT) on the day in the inter-bank foreign exchange market. The demand for the greenback was steady, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.86 and Tk 69.03 against the previous day's range of between Tk 68.90 and Tk 69.03 in the inter-bank foreign exchange market.