Call rate eases further, dollar unchanged
FE Report | Friday, 20 June 2008
The inter-bank call money rate eased further Thursday due to injection of fresh cash into the market. The US dollar, however, remained unchanged against Bangladesh taka (BDT) in the inter-bank foreign exchange market with moderate demand for the greenback, fund managers said.
The call rate in extreme range moved between 8.00 per cent and 12.00 per cent against previous day's range of 8.00 per cent and 13.75 per cent.
Most deals were, however, transacted at rates between 8.50 per cent and 9.00 per cent against previous day's range of between 8.50 per cent and 9.50 per cent that reflected modest pressure on liquidity.
The central bank injected Tk 9.69 billion into the market through repurchase agreement (repo) auctions at an annual interest rate of 8.50 per cent putting favourable impact on liquidity, fund managers said.
Most banks borrowed cash at rates moving on normal level. Some banks and financial institutions, however, had to borrow cash at high rates in stray deals to meet urgent needs of their clients that influenced the call rate to rise above normal trend, sources said.
The dollar was stable against taka in the inter-bank foreign exchange market mainly due to steady demand, fund managers said.
The exchange rate of the dollar moved between Tk 68.50 and Tk 68.53 maintaining previous trading day's range in the inter-bank market.
The dollar also maintained its steady nerve in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.80 repeating previous trading day's range.
In the informal market, the dollar was mostly steady and it was traded at rates varying between Tk 69.60 and Tk 70.00 against previous day's range of between Tk 69.70 and Tk 70.00. The informal market experienced higher demand for the foreign currency 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, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 42.65 and Rs 42.69 and the Pakistani rupee between Rs 66.70 and Rs 66.90. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2610 ringgit and 3.2639 ringgit and that against the Thai currency between 33.11 baht and 33.16 baht.
The call rate in extreme range moved between 8.00 per cent and 12.00 per cent against previous day's range of 8.00 per cent and 13.75 per cent.
Most deals were, however, transacted at rates between 8.50 per cent and 9.00 per cent against previous day's range of between 8.50 per cent and 9.50 per cent that reflected modest pressure on liquidity.
The central bank injected Tk 9.69 billion into the market through repurchase agreement (repo) auctions at an annual interest rate of 8.50 per cent putting favourable impact on liquidity, fund managers said.
Most banks borrowed cash at rates moving on normal level. Some banks and financial institutions, however, had to borrow cash at high rates in stray deals to meet urgent needs of their clients that influenced the call rate to rise above normal trend, sources said.
The dollar was stable against taka in the inter-bank foreign exchange market mainly due to steady demand, fund managers said.
The exchange rate of the dollar moved between Tk 68.50 and Tk 68.53 maintaining previous trading day's range in the inter-bank market.
The dollar also maintained its steady nerve in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.80 repeating previous trading day's range.
In the informal market, the dollar was mostly steady and it was traded at rates varying between Tk 69.60 and Tk 70.00 against previous day's range of between Tk 69.70 and Tk 70.00. The informal market experienced higher demand for the foreign currency 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, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 42.65 and Rs 42.69 and the Pakistani rupee between Rs 66.70 and Rs 66.90. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2610 ringgit and 3.2639 ringgit and that against the Thai currency between 33.11 baht and 33.16 baht.