Call rate eases in most deals, dollar stable
Thursday, 13 March 2008
FE Report
The inter-bank call money rate eased in most deals Wednesday but maintained its overall range steady with injection of fresh cash into the market. The US dollar was mostly steady in the inter-bank foreign exchange market, fund managers said.
The call rate fluctuated in most deals between 10.00 per cent and 18.00 per cent against previous day's range of between 18.00 per cent and 20.00 per cent.
In extreme swinging, the rate, however, moved between 8.00 per cent and 20.00 per cent repeating previous day's range.
The central bank injected Tk 20.90 billion through repurchase agreement (repo) auctions on the day at an annual interest rate of 8.50 per cent in a bid to extend liquidity support to primary dealers. The inflow of fresh cash eased pressure on liquidity reflecting in lower call rate in most deals, fund managers said.
Some commercial banks and financial institutions, however, had to borrow cash at high rates from the inter-bank market to meet immediate requirements of their clients, they said.
The inter-bank call money rate eased in most deals Wednesday but maintained its overall range steady with injection of fresh cash into the market. The US dollar was mostly steady in the inter-bank foreign exchange market, fund managers said.
The call rate fluctuated in most deals between 10.00 per cent and 18.00 per cent against previous day's range of between 18.00 per cent and 20.00 per cent.
In extreme swinging, the rate, however, moved between 8.00 per cent and 20.00 per cent repeating previous day's range.
The central bank injected Tk 20.90 billion through repurchase agreement (repo) auctions on the day at an annual interest rate of 8.50 per cent in a bid to extend liquidity support to primary dealers. The inflow of fresh cash eased pressure on liquidity reflecting in lower call rate in most deals, fund managers said.
Some commercial banks and financial institutions, however, had to borrow cash at high rates from the inter-bank market to meet immediate requirements of their clients, they said.