Call rate eases, dollar unchanged
Wednesday, 30 January 2008
FE Report
The inter-bank call money rate eased Tuesday due to injection of fresh cash into the market, fund managers said.
The rate in extreme range fluctuated between 6.00 per cent and 15.00 per cent against previous day's range of 8.00 per cent and 20.00. In most deals, the rate, however, fluctuated between 8.00 per cent and 12.00 per cent against previous day's 12.00 per cent and 15.00 per cent that indicated lower pressure on liquidity, they said.
The central bank injected fresh cash of Tk 4.975 billion through repurchase agreement at an annual interest rate of 8.50 per cent to primary dealers for liquidity support. It improved liquidity position of the market that reflected in lower call rate, they added.
Some commercial banks and financial institutions were in immediate need of fund and they borrowed cash from the inter-bank market at high rates raising call rate above normal trend, ,fund managers said.
The US dollar was, however, steady against Bangladesh taka (BDT) in the inter-bank foreign exchange market although the demand for the greenback was higher.
The inter-bank exchange rate of the greenback stood at Tk 68.58 repeating previous day's rate, fund managers said.
The dollar was also steady in public deals and it was exchanged at rates varying between Tk 67.23 and Tk 69.85 maintaining previous day's range.
In the informal market, the dollar fell and it was traded at rates varying between Tk 67.60 and Tk 68.00 against the previous day's range of between Tk 67.70 and Tk 68.30. The informal market experienced higher demand for the dollar on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.56 and Tk 1.77.
In the regional market, the exchange rate of the dollar against the Indian rupee moved between Rs 39.34 and Rs 39.35 and the Pakistani rupee between Rs 62.58 and Rs 62.78. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2350 ringgit and 3.2385 ringgit, and that against the Thai currency between 33.03 baht and 33.07 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 106.96 yen and 106.98 yen, while the euro moved between 1.4773 yen and 1.4775 dollar against the greenback.
The inter-bank call money rate eased Tuesday due to injection of fresh cash into the market, fund managers said.
The rate in extreme range fluctuated between 6.00 per cent and 15.00 per cent against previous day's range of 8.00 per cent and 20.00. In most deals, the rate, however, fluctuated between 8.00 per cent and 12.00 per cent against previous day's 12.00 per cent and 15.00 per cent that indicated lower pressure on liquidity, they said.
The central bank injected fresh cash of Tk 4.975 billion through repurchase agreement at an annual interest rate of 8.50 per cent to primary dealers for liquidity support. It improved liquidity position of the market that reflected in lower call rate, they added.
Some commercial banks and financial institutions were in immediate need of fund and they borrowed cash from the inter-bank market at high rates raising call rate above normal trend, ,fund managers said.
The US dollar was, however, steady against Bangladesh taka (BDT) in the inter-bank foreign exchange market although the demand for the greenback was higher.
The inter-bank exchange rate of the greenback stood at Tk 68.58 repeating previous day's rate, fund managers said.
The dollar was also steady in public deals and it was exchanged at rates varying between Tk 67.23 and Tk 69.85 maintaining previous day's range.
In the informal market, the dollar fell and it was traded at rates varying between Tk 67.60 and Tk 68.00 against the previous day's range of between Tk 67.70 and Tk 68.30. The informal market experienced higher demand for the dollar on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.56 and Tk 1.77.
In the regional market, the exchange rate of the dollar against the Indian rupee moved between Rs 39.34 and Rs 39.35 and the Pakistani rupee between Rs 62.58 and Rs 62.78. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2350 ringgit and 3.2385 ringgit, and that against the Thai currency between 33.03 baht and 33.07 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 106.96 yen and 106.98 yen, while the euro moved between 1.4773 yen and 1.4775 dollar against the greenback.