Call rate hits 11pc on last working day
Friday, 18 September 2009
FE Report
The inter-bank call money rate maintained an upward trend Thursday, the last working day before the Eid festival, despite injection of fresh funds by the central bank.
"The call rate increased on the day following heavy cash withdrawal pressures on the banking system before the five-day long Eid vacation," a senior treasury official of a commercial bank told the FE.
He also said the call rate may ease after Eid-ul-Fitr.
The call rate ranged between 6.00 per cent and 11.00 per cent on the day against the previous range between 4.50 per cent and 10.00 per cent.
However, most of the deals were settled at rates varying between 7.00 per cent and 8.00 per cent, the market operators said.
The central bank injected fresh fund amounting to Tk 2.36 billion through repurchase agreement (repo) auction at 8.50 per cent aiming to keep the inter-bank money market stable on the day.
Most of the banks located at Motijheel, Dilkusha and other commercial places of the capital witnessed long queues of people waiting mostly to withdraw money before the Eid festival.
The inter-bank call money rate maintained an upward trend Thursday, the last working day before the Eid festival, despite injection of fresh funds by the central bank.
"The call rate increased on the day following heavy cash withdrawal pressures on the banking system before the five-day long Eid vacation," a senior treasury official of a commercial bank told the FE.
He also said the call rate may ease after Eid-ul-Fitr.
The call rate ranged between 6.00 per cent and 11.00 per cent on the day against the previous range between 4.50 per cent and 10.00 per cent.
However, most of the deals were settled at rates varying between 7.00 per cent and 8.00 per cent, the market operators said.
The central bank injected fresh fund amounting to Tk 2.36 billion through repurchase agreement (repo) auction at 8.50 per cent aiming to keep the inter-bank money market stable on the day.
Most of the banks located at Motijheel, Dilkusha and other commercial places of the capital witnessed long queues of people waiting mostly to withdraw money before the Eid festival.