Call rate, greenback steady
FE Report | Tuesday, 19 August 2008
The inter-bank call money rate maintained steady level Monday due to injection of fresh cash into the market. US dollar also remained stable with an upward bias against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to steady supply of the greenback, fund managers said.
The call rate fluctuated between 7.00 per cent and 12.00 per cent coinciding with previous day's range.
Most deals were made at rates fluctuating between 8.00 per cent and 9.50 per cent against the previous trading day's range between 7.50 per cent and 9.00 per cent projecting an increased pressure on liquidity.
The borrowing of cash at high rates in stray deals by some banks and financial institutions to meet urgent needs of their clients raised the call rate above the normal level, fund managers said.
The central bank injected fresh cash of Tk 13.0975 billion through repurchase agreement (repo) at an annual interest rate of 8.50 per cent that eased some pressure on liquidity.
Dollar remained stable against taka and the exchange rate of the greenback stood at Tk 68.52 maintaining the previous trading day's rate in the inter-bank market.
Dollar, however, fell in public deals and cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.80 against the previous trading day's range between Tk 67.42 and Tk 70.20.
In the informal market, dollar mostly remained steady and it was mainly traded at rates varying between Tk 69.80 and Tk 70.10 against the previous day's range between 69.70 and Tk 70.10. The informal market experienced a steady demand for the foreign currency on the day, money dealers said.
The exchange rate of Indian rupee against taka continued to fluctuate between Tk 1.56 and Tk 1.77.
In the regional market, most currencies were steady. The exchange rate of dollar against Indian rupee moved between Rs 43.59 and Rs 43.63 and Pakistani rupee between Rs 76.00 and Rs 76.01. Besides, the exchange rate of dollar against Malaysian ringgit varied between 3.3380 ringgit and 3.3390 ringgit and that against Thai currency between 33.87 baht and 33.92 baht.
In the international market, the exchange rate of dollar against Japanese yen varied mainly between 110.29 yen and 110.32 yen, while euro moved between 1.4701 dollar and 1.4702 dollar against the greenback.
As on August 18, 2008, the London Inter-bank Offered Rates (LIBOR) against US dollar were 2.46690 per cent for one month, 2.80440 per cent for three months, 3.09500 per cent for six months, 3.14560 per cent for nine months and 3.21810 per cent for twelve months.
The call rate fluctuated between 7.00 per cent and 12.00 per cent coinciding with previous day's range.
Most deals were made at rates fluctuating between 8.00 per cent and 9.50 per cent against the previous trading day's range between 7.50 per cent and 9.00 per cent projecting an increased pressure on liquidity.
The borrowing of cash at high rates in stray deals by some banks and financial institutions to meet urgent needs of their clients raised the call rate above the normal level, fund managers said.
The central bank injected fresh cash of Tk 13.0975 billion through repurchase agreement (repo) at an annual interest rate of 8.50 per cent that eased some pressure on liquidity.
Dollar remained stable against taka and the exchange rate of the greenback stood at Tk 68.52 maintaining the previous trading day's rate in the inter-bank market.
Dollar, however, fell in public deals and cash dollar was transacted at rates varying between Tk 67.42 and Tk 69.80 against the previous trading day's range between Tk 67.42 and Tk 70.20.
In the informal market, dollar mostly remained steady and it was mainly traded at rates varying between Tk 69.80 and Tk 70.10 against the previous day's range between 69.70 and Tk 70.10. The informal market experienced a steady demand for the foreign currency on the day, money dealers said.
The exchange rate of Indian rupee against taka continued to fluctuate between Tk 1.56 and Tk 1.77.
In the regional market, most currencies were steady. The exchange rate of dollar against Indian rupee moved between Rs 43.59 and Rs 43.63 and Pakistani rupee between Rs 76.00 and Rs 76.01. Besides, the exchange rate of dollar against Malaysian ringgit varied between 3.3380 ringgit and 3.3390 ringgit and that against Thai currency between 33.87 baht and 33.92 baht.
In the international market, the exchange rate of dollar against Japanese yen varied mainly between 110.29 yen and 110.32 yen, while euro moved between 1.4701 dollar and 1.4702 dollar against the greenback.
As on August 18, 2008, the London Inter-bank Offered Rates (LIBOR) against US dollar were 2.46690 per cent for one month, 2.80440 per cent for three months, 3.09500 per cent for six months, 3.14560 per cent for nine months and 3.21810 per cent for twelve months.