Call rate drops further, dollar weakens
Thursday, 9 April 2009
FE Report
The inter-bank call money rate dropped further Wednesday due to excess liquidity in the market. US dollar also weakened slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market, fund managers said.
The call rate in extreme range moved mainly between 0.25 per cent and 10.0 per cent against the previous trading day's range between 0.50 per cent and 10.0 per cent.
Most deals were, however, transacted at rates varying between 0.50 per cent and 2.00 per cent against the previous day's range between 1.50 per cent and 2.00 per cent reflecting a lower pressure on liquidity, they said.
The rate, however, rose above the normal trend in limited number of deals with borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.
Dollar was nominally lower against taka and the exchange rate of dollar moved between Tk 69.01 and Tk 69.02 against the previous trading day's rate of Tk 69.02.
The greenback, however, was stable in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 69.60 maintaining the previous trading day's range.
In the informal market, dollar was mostly steady and it was traded mainly at rates varying between Tk 69.20 and Tk 69.60 against the previous day's range between Tk 69.30 and Tk 69.60. The informal market experienced a steady demand for the foreign currency, money dealers said.
The exchange rate of Indian rupee against taka fluctuated between Tk 1.3427 and Tk 1.4061.
In the regional market, most currencies were steady. The exchange rate of dollar against Indian rupee moved between Rs 50.1550 and Rs 50.8650 and Pakistani rupee between Rs 79.85 and Rs 80.80. Besides, the exchange rate of dollar against Malaysian ringgit varied between 3.5482 ringed and 3.6052 ringed and that against the Thai currency between 35.14 baht and 35.58 baht.
In the international market, the exchange rate of dollar against Japanese yen varied mainly between 99.8480 yen and 101.1290 yen, while euro moved between 1.3227 dollar and 1.3228 dollar against the greenback.
As on April 08, 2009, the London Inter-Bank Offered Rates (LIBOR) against US dollar were 0.46930 per cent for one month, 1.14930 per cent for three months, 1.70310 per cent for six months, 1.81750 per cent for nine months and 1.97870 per cent for twelve months.
The inter-bank call money rate dropped further Wednesday due to excess liquidity in the market. US dollar also weakened slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market, fund managers said.
The call rate in extreme range moved mainly between 0.25 per cent and 10.0 per cent against the previous trading day's range between 0.50 per cent and 10.0 per cent.
Most deals were, however, transacted at rates varying between 0.50 per cent and 2.00 per cent against the previous day's range between 1.50 per cent and 2.00 per cent reflecting a lower pressure on liquidity, they said.
The rate, however, rose above the normal trend in limited number of deals with borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.
Dollar was nominally lower against taka and the exchange rate of dollar moved between Tk 69.01 and Tk 69.02 against the previous trading day's rate of Tk 69.02.
The greenback, however, was stable in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 69.60 maintaining the previous trading day's range.
In the informal market, dollar was mostly steady and it was traded mainly at rates varying between Tk 69.20 and Tk 69.60 against the previous day's range between Tk 69.30 and Tk 69.60. The informal market experienced a steady demand for the foreign currency, money dealers said.
The exchange rate of Indian rupee against taka fluctuated between Tk 1.3427 and Tk 1.4061.
In the regional market, most currencies were steady. The exchange rate of dollar against Indian rupee moved between Rs 50.1550 and Rs 50.8650 and Pakistani rupee between Rs 79.85 and Rs 80.80. Besides, the exchange rate of dollar against Malaysian ringgit varied between 3.5482 ringed and 3.6052 ringed and that against the Thai currency between 35.14 baht and 35.58 baht.
In the international market, the exchange rate of dollar against Japanese yen varied mainly between 99.8480 yen and 101.1290 yen, while euro moved between 1.3227 dollar and 1.3228 dollar against the greenback.
As on April 08, 2009, the London Inter-Bank Offered Rates (LIBOR) against US dollar were 0.46930 per cent for one month, 1.14930 per cent for three months, 1.70310 per cent for six months, 1.81750 per cent for nine months and 1.97870 per cent for twelve months.