Call rate lower, dollar stable
FE Report | Wednesday, 11 June 2008
The inter-bank call money rate closed lower Tuesday due to injection of fresh cash into the market. The US dollar, however, was stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market on moderate demand for the greenback, fund managers said.
The call rate in extreme range moved between 8.00 per cent and 15.50 per cent against previous day's range of 8.00 per cent and 18.00 per cent.
Most deals were, however, transacted at rates between 8.00 per cent and 10.00 per cent against previous day's range of between 8.00 per cent and 12.00 per cent that reflected lower pressure on liquidity.
The liquidity position of the market improved with injection of fresh cash by the central bank through repurchase agreement (repo), fund managers said.
The central bank injected fresh cash of Tk 9.075 billion, including Tk 5.10 billion as liquidity support to primary dealers, into the market through repo auctions at an interest rate of 8.50 per cent per annum.
The central bank, however, withdrew Tk 1.00 billion, including Tk 288 million devolved to primary dealers, against Bangladesh Government Treasury Bonds at an annual interest rate of 12.22 per cent.
Some banks and financial institutions, however, borrowed cash from the inter-bank market at high rates in stray deals to meet urgent needs of their clients. It influenced the call rate to move above normal trend in limited number of transactions, sources said.
The dollar was steady against taka in the inter-bank foreign exchange market, as the market experienced moderate demand for the greenback, 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 was also stable in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.80 repeating previous day's range.
In the informal market, the dollar was mostly steady and it was traded at rates varying between Tk 69.50 and Tk 69.90 against previous day's range of between Tk 69.60 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.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 42.91 and Rs 42.93 and the Pakistani rupee between Rs 67.67 and Rs 67.77. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2690 ringgit and 3.2710 ringgit and that against the Thai currency between 33.00 baht and 33.03 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 106.79 yen and 106.81 yen, while the euro moved between 1.5533 dollar and 1.5534 dollar against the greenback.
As on June 10, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.44810 per cent for one month, 2.69120 per cent for three months, 2.95750 per cent for six months, 3.07620 per cent for nine months and 3.18750 per cent for twelve months.
The call rate in extreme range moved between 8.00 per cent and 15.50 per cent against previous day's range of 8.00 per cent and 18.00 per cent.
Most deals were, however, transacted at rates between 8.00 per cent and 10.00 per cent against previous day's range of between 8.00 per cent and 12.00 per cent that reflected lower pressure on liquidity.
The liquidity position of the market improved with injection of fresh cash by the central bank through repurchase agreement (repo), fund managers said.
The central bank injected fresh cash of Tk 9.075 billion, including Tk 5.10 billion as liquidity support to primary dealers, into the market through repo auctions at an interest rate of 8.50 per cent per annum.
The central bank, however, withdrew Tk 1.00 billion, including Tk 288 million devolved to primary dealers, against Bangladesh Government Treasury Bonds at an annual interest rate of 12.22 per cent.
Some banks and financial institutions, however, borrowed cash from the inter-bank market at high rates in stray deals to meet urgent needs of their clients. It influenced the call rate to move above normal trend in limited number of transactions, sources said.
The dollar was steady against taka in the inter-bank foreign exchange market, as the market experienced moderate demand for the greenback, 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 was also stable in public deals and the cash dollar was transacted at rates varying between Tk 67.25 and Tk 69.80 repeating previous day's range.
In the informal market, the dollar was mostly steady and it was traded at rates varying between Tk 69.50 and Tk 69.90 against previous day's range of between Tk 69.60 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.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 42.91 and Rs 42.93 and the Pakistani rupee between Rs 67.67 and Rs 67.77. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.2690 ringgit and 3.2710 ringgit and that against the Thai currency between 33.00 baht and 33.03 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 106.79 yen and 106.81 yen, while the euro moved between 1.5533 dollar and 1.5534 dollar against the greenback.
As on June 10, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 2.44810 per cent for one month, 2.69120 per cent for three months, 2.95750 per cent for six months, 3.07620 per cent for nine months and 3.18750 per cent for twelve months.