Call rate eases, dollar steady
Wednesday, 27 February 2008
FE Report
The inter-bank call money rate eased Tuesday despite withdrawal of cash through treasury bonds, as the liquidity position of the market improved. The US dollar, however, was mostly steady in the inter-bank foreign exchange although the demand for cash remained higher, fund managers said.
The call rate in extreme range moved between 6.00 per cent and 10.00 per cent against previous day's range of between 6.50 per cent and 11.00 per cent.
The rate, however, moved between 6.00 per cent and 7.00 per cent in most deals against previous day's 7.00 per cent and 8.00 per cent that confirmed flow of comfortable liquidity in the market, they said.
The call rate, however, moved above the normal trend with some commercial banks and financial institutions borrowing cash at high rates in stray deals, fund managers said.
The central bank withdrew Tk 500 million against 20-year Bangladesh Government Treasury bonds at an annual interest rate of 13.14 per cent.
The US dollar, on the other hand was steady with gaining bias against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of higher supply of the greenback, fund managers said.
The exchange rate of the dollar fluctuated between Tk 68.57 and Tk 68.58 following previous day's range of between Tk 68.56 and Tk 68.58.
The inter-bank call money rate eased Tuesday despite withdrawal of cash through treasury bonds, as the liquidity position of the market improved. The US dollar, however, was mostly steady in the inter-bank foreign exchange although the demand for cash remained higher, fund managers said.
The call rate in extreme range moved between 6.00 per cent and 10.00 per cent against previous day's range of between 6.50 per cent and 11.00 per cent.
The rate, however, moved between 6.00 per cent and 7.00 per cent in most deals against previous day's 7.00 per cent and 8.00 per cent that confirmed flow of comfortable liquidity in the market, they said.
The call rate, however, moved above the normal trend with some commercial banks and financial institutions borrowing cash at high rates in stray deals, fund managers said.
The central bank withdrew Tk 500 million against 20-year Bangladesh Government Treasury bonds at an annual interest rate of 13.14 per cent.
The US dollar, on the other hand was steady with gaining bias against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of higher supply of the greenback, fund managers said.
The exchange rate of the dollar fluctuated between Tk 68.57 and Tk 68.58 following previous day's range of between Tk 68.56 and Tk 68.58.