Call rate moves up further
Monday, 14 September 2009
FE Report
The local interbank call money rate moved up further Sunday with the Eid-ul-Fitr festival round the corner, treasury officials said.
The call rate ranged between 3.00 per cent and 7.25 per cent on the day against the previous range between 2.50 per cent and 7.25 per cent. However, most of the deals were settled at rates varying between 3.00 per cent and 3.50 per cent, the market operators said.
"The call rate may rise slightly today (Monday) following withdrawal of fresh fund from the market by the central bank through issuance of treasury bills," a senior treasury official of a commercial bank told the FE.
He also said the short-term borrowings normally increase before the Eid festival to meet the growing demand from bank clients.
The government borrowed Tk 9.0 billion Sunday through auction of treasury bills, resulting in withdrawal of the fund from the market today (Monday).
The central bank conducted auctions of 91-day and 182-day treasury bills on the day in line with its auction calendar, treasury officials added.
The US dollar remained unchanged against Bangladesh Taka (BDT) in the interbank foreign exchange market due mainly to a low demand for the greenback.
The banks quoted the dollar rate at Tk 69.06 Sunday, unchanged from the previous level in the inter-bank foreign exchange market, the treasury officials confirmed.
The local interbank call money rate moved up further Sunday with the Eid-ul-Fitr festival round the corner, treasury officials said.
The call rate ranged between 3.00 per cent and 7.25 per cent on the day against the previous range between 2.50 per cent and 7.25 per cent. However, most of the deals were settled at rates varying between 3.00 per cent and 3.50 per cent, the market operators said.
"The call rate may rise slightly today (Monday) following withdrawal of fresh fund from the market by the central bank through issuance of treasury bills," a senior treasury official of a commercial bank told the FE.
He also said the short-term borrowings normally increase before the Eid festival to meet the growing demand from bank clients.
The government borrowed Tk 9.0 billion Sunday through auction of treasury bills, resulting in withdrawal of the fund from the market today (Monday).
The central bank conducted auctions of 91-day and 182-day treasury bills on the day in line with its auction calendar, treasury officials added.
The US dollar remained unchanged against Bangladesh Taka (BDT) in the interbank foreign exchange market due mainly to a low demand for the greenback.
The banks quoted the dollar rate at Tk 69.06 Sunday, unchanged from the previous level in the inter-bank foreign exchange market, the treasury officials confirmed.