Call rate eases, dollar stable
Friday, 22 June 2007
FE Report
The inter-bank call money rate eased slightly Thursday despite withdrawal of large amount of cash through reverse repurchase agreement (repo). The demand for cash was higher, fund managers said.
The rate moved between 6.50 per cent and 10.00 per cent against the previous day's range of between 6.50 per cent and 10.50 per cent.
The rates, however, moved between 6.60 per cent and 6.90 per cent in most deals against the previous day's range of between 6.50 per cent and 7.00 per cent, they said.
The call rate moved above the bank rate of 5.00 per cent in all deals indicating higher than expected pressure on liquidity, fund managers said.
The call rate rose above the normal trend, as some non-banking financial institutions borrowed cash at high rates from the inter-bank market to meet urgent demands of the clients, fund managers said.
The central bank withdrew Tk 22.51 billion against twenty-four reverse repo bids at interest rate of 6.50 per cent per annum.
The US dollar remained steady with upward bias against the Bangladesh taka (BDT) on the day in the inter-bank foreign exchange market. The demand for the greenback was stable, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.90 and Tk 69.05 against the previous day's range of between Tk 68.86 and Tk 69.03 in the inter-bank foreign exchange market.
The major transactions were made at rates swinging between Tk 68.90 and Tk 68.95 in the inter-bank market, they said.
The dollar was also stable in public deals. The cash dollar in public deals was transacted at rates varying between Tk 67.05 and Tk 69.90 maintaining previous day's range.
In the informal market, the dollar was steady and it was traded at rates varying between Tk 70.60 and Tk 71.00 in the informal market against the previous day's range of between Tk 70.60 and Tk 70.90. The demand for the greenback was higher in the informal market, money dealers said.
The exchange rate of the Indian rupee against the taka varied between Tk 1.56 and Tk 1.71.
In the regional market, the exchange rates of the dollar against the Indian rupee fluctuated between Rs 40.57 and Rs 40.65 and the Pakistani rupee between Rs 60.72 and Rs 60.82.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4550 ringgit and 3.4600 ringgit, and that against the Thai currency between 32.50 baht and 32.55 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 123.62 yen and 123.65 yen, while the euro moved between 1.3399 dollar and 1.3400 dollar against the greenback.
As on June 21, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 5.32000 per cent for one month, 5.36000 per cent for three months, 5.39313 per cent for six months and 5.43875 per cent for twelve months.
The inter-bank call money rate eased slightly Thursday despite withdrawal of large amount of cash through reverse repurchase agreement (repo). The demand for cash was higher, fund managers said.
The rate moved between 6.50 per cent and 10.00 per cent against the previous day's range of between 6.50 per cent and 10.50 per cent.
The rates, however, moved between 6.60 per cent and 6.90 per cent in most deals against the previous day's range of between 6.50 per cent and 7.00 per cent, they said.
The call rate moved above the bank rate of 5.00 per cent in all deals indicating higher than expected pressure on liquidity, fund managers said.
The call rate rose above the normal trend, as some non-banking financial institutions borrowed cash at high rates from the inter-bank market to meet urgent demands of the clients, fund managers said.
The central bank withdrew Tk 22.51 billion against twenty-four reverse repo bids at interest rate of 6.50 per cent per annum.
The US dollar remained steady with upward bias against the Bangladesh taka (BDT) on the day in the inter-bank foreign exchange market. The demand for the greenback was stable, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.90 and Tk 69.05 against the previous day's range of between Tk 68.86 and Tk 69.03 in the inter-bank foreign exchange market.
The major transactions were made at rates swinging between Tk 68.90 and Tk 68.95 in the inter-bank market, they said.
The dollar was also stable in public deals. The cash dollar in public deals was transacted at rates varying between Tk 67.05 and Tk 69.90 maintaining previous day's range.
In the informal market, the dollar was steady and it was traded at rates varying between Tk 70.60 and Tk 71.00 in the informal market against the previous day's range of between Tk 70.60 and Tk 70.90. The demand for the greenback was higher in the informal market, money dealers said.
The exchange rate of the Indian rupee against the taka varied between Tk 1.56 and Tk 1.71.
In the regional market, the exchange rates of the dollar against the Indian rupee fluctuated between Rs 40.57 and Rs 40.65 and the Pakistani rupee between Rs 60.72 and Rs 60.82.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4550 ringgit and 3.4600 ringgit, and that against the Thai currency between 32.50 baht and 32.55 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 123.62 yen and 123.65 yen, while the euro moved between 1.3399 dollar and 1.3400 dollar against the greenback.
As on June 21, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 5.32000 per cent for one month, 5.36000 per cent for three months, 5.39313 per cent for six months and 5.43875 per cent for twelve months.