Call rate loses ground, dollar steady
FE Report | Thursday, 26 June 2008
The inter-bank call money rate lost ground Wednesday due to comfortable flow of cash in the market. The US dollar, however, appeared stable 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 6.50 per cent and 12.25 per cent against previous day's range of between 8.00 per cent and 12.00 per cent.
Most deals were, however, transacted at rates between 7.50 per cent and 8.50 per cent against previous day's range of between 8.00 per cent and 8.50 per cent showing insignificant downward pressure on liquidity.
The call rate rose above the main trend due to borrowing of cash by some banks and financial institutions at high rates to meet urgent needs of their clients in stray deals, sources said.
The central bank intensively monitored the market that helped improving liquidity position reflecting positive impact on call money rate, fund managers said.
The inter-bank foreign exchange market witnessed a stable dollar against taka mainly due to steady supply of the greenback. The market maintained normal speed, fund managers said.
The exchange rate of the dollar moved between Tk 68.50 and Tk 68.53 repeating previous trading day's range in the inter-bank market.
The dollar also remained stable in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.80 that repeated previous trading day's range.
In the informal market, the dollar was steady and it was traded at rates varying between Tk 69.60 and Tk 69.90 against previous day's range of between 69.50 and Tk 69.90. The informal market experienced moderate 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.
The call rate in extreme range moved between 6.50 per cent and 12.25 per cent against previous day's range of between 8.00 per cent and 12.00 per cent.
Most deals were, however, transacted at rates between 7.50 per cent and 8.50 per cent against previous day's range of between 8.00 per cent and 8.50 per cent showing insignificant downward pressure on liquidity.
The call rate rose above the main trend due to borrowing of cash by some banks and financial institutions at high rates to meet urgent needs of their clients in stray deals, sources said.
The central bank intensively monitored the market that helped improving liquidity position reflecting positive impact on call money rate, fund managers said.
The inter-bank foreign exchange market witnessed a stable dollar against taka mainly due to steady supply of the greenback. The market maintained normal speed, fund managers said.
The exchange rate of the dollar moved between Tk 68.50 and Tk 68.53 repeating previous trading day's range in the inter-bank market.
The dollar also remained stable in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.80 that repeated previous trading day's range.
In the informal market, the dollar was steady and it was traded at rates varying between Tk 69.60 and Tk 69.90 against previous day's range of between 69.50 and Tk 69.90. The informal market experienced moderate 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.