Call rate remains stable after Eid, dollar gains ground
Wednesday, 17 October 2007
FE Report
The inter-bank call money rate remained stable Tuesday, the first working day after the Eid-ul-Fitr festival, despite internal adjustment of funds by some banks and non-banking financial institutions.
The call rate ranged between 6.50 per cent and 12.00 per cent on the day unchanged from the previous working day, while most of the deals were settled between 6.50 per cent and 7.00 per cent, treasury officials said.
The US dollar gained ground lightly against the Bangladesh taka (BDT) Tuesday in the inter-bank foreign exchange market despite moderate demand for the greenback, fund managers said.
The exchange rate of the dollar varied between Tk 68.70 and Tk 68.71 against previous day's range of between Tk 68.68 and Tk 68.71.
The Bangladesh Bank (BB) withdrew fund amounting to Tk 6.57 billion at 6.50 per cent from the market on the day through the reverse repo auction, according to the central bank statistics.
Excess liquidity with all scheduled banks stood higher at Tk 142.84 billion by the end of last July against Tk 142.79 billion at the end of June 2007, the BB's data showed.
On the other hand, the US dollar slightly increased against the local currency on the day due to higher demand of the greenback.
The banks quoted the dollar rate between Tk 68.70-Tk 68.71 on the day against Tk 68.68 and Tk 68.71 of the previous working day in the inter-bank market.
The greenback was also steady in public deals and the cash dollar was exchanged at rates varying between Tk 67.60 and Tk 69.90 against the previous day's range of between Tk 67.55 and Tk 69.90.
The inter-bank call money rate remained stable Tuesday, the first working day after the Eid-ul-Fitr festival, despite internal adjustment of funds by some banks and non-banking financial institutions.
The call rate ranged between 6.50 per cent and 12.00 per cent on the day unchanged from the previous working day, while most of the deals were settled between 6.50 per cent and 7.00 per cent, treasury officials said.
The US dollar gained ground lightly against the Bangladesh taka (BDT) Tuesday in the inter-bank foreign exchange market despite moderate demand for the greenback, fund managers said.
The exchange rate of the dollar varied between Tk 68.70 and Tk 68.71 against previous day's range of between Tk 68.68 and Tk 68.71.
The Bangladesh Bank (BB) withdrew fund amounting to Tk 6.57 billion at 6.50 per cent from the market on the day through the reverse repo auction, according to the central bank statistics.
Excess liquidity with all scheduled banks stood higher at Tk 142.84 billion by the end of last July against Tk 142.79 billion at the end of June 2007, the BB's data showed.
On the other hand, the US dollar slightly increased against the local currency on the day due to higher demand of the greenback.
The banks quoted the dollar rate between Tk 68.70-Tk 68.71 on the day against Tk 68.68 and Tk 68.71 of the previous working day in the inter-bank market.
The greenback was also steady in public deals and the cash dollar was exchanged at rates varying between Tk 67.60 and Tk 69.90 against the previous day's range of between Tk 67.55 and Tk 69.90.