Call rate rises, dollar stable
Tuesday, 13 November 2007
FE Report
The inter-bank call money rate marked slight rise Monday due to pressure on liquidity caused by blended influences of the withdrawal of cash through reverse repurchase agreement and the adjustments obligations of the banks, fund managers said.
The market was active and the rate in its extreme range moved between 6.50 per cent and 10.50 per cent against the previous day's range of between 6.50 per cent and 10.00 per cent.
In most deals, the rates moved between 6.50 per cent and 6.70 per cent against the previous day's range of between 6.50 per cent and 6.60 per cent, they said.
The call rate rose above the normal trend, as some non-banking financial institutions had to borrow cash at high rates from the inter-bank market in some stray deals to meet urgent demands of their clients, fund managers said.
The call rate remained above the bank rate of 5.00 per cent in all deals indicating higher than expected pressure on liquidity, fund managers said.
The central bank withdrew Tk 10.79 billion through reverse repo at an interest rate of 6.50 per cent per annum.
The US dollar, on the other hand, maintained its stable nerve against the Bangladesh taka (BDT) in the inter-bank foreign exchange market due to steady demand for the greenback, fund managers said.
The market was active due to trading in the international market.
The exchange rate of the dollar varied between Tk 68.63 and Tk 68.64 repeating previous day's range.
The greenback was also steady in public deals and the cash dollar was exchanged at rates varying between Tk 67.60 and Tk 70.40 against the previous day's range of between Tk 67.60 and Tk 70.45.
In the informal market, the dollar closed lower and it was traded at rates varying between Tk 70.00 and Tk 70.30 against the previous day's range of between Tk 70.00 and Tk 70.20. The informal market experienced steady demand for the dollar, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.56 and Tk 1.73.
The inter-bank call money rate marked slight rise Monday due to pressure on liquidity caused by blended influences of the withdrawal of cash through reverse repurchase agreement and the adjustments obligations of the banks, fund managers said.
The market was active and the rate in its extreme range moved between 6.50 per cent and 10.50 per cent against the previous day's range of between 6.50 per cent and 10.00 per cent.
In most deals, the rates moved between 6.50 per cent and 6.70 per cent against the previous day's range of between 6.50 per cent and 6.60 per cent, they said.
The call rate rose above the normal trend, as some non-banking financial institutions had to borrow cash at high rates from the inter-bank market in some stray deals to meet urgent demands of their clients, fund managers said.
The call rate remained above the bank rate of 5.00 per cent in all deals indicating higher than expected pressure on liquidity, fund managers said.
The central bank withdrew Tk 10.79 billion through reverse repo at an interest rate of 6.50 per cent per annum.
The US dollar, on the other hand, maintained its stable nerve against the Bangladesh taka (BDT) in the inter-bank foreign exchange market due to steady demand for the greenback, fund managers said.
The market was active due to trading in the international market.
The exchange rate of the dollar varied between Tk 68.63 and Tk 68.64 repeating previous day's range.
The greenback was also steady in public deals and the cash dollar was exchanged at rates varying between Tk 67.60 and Tk 70.40 against the previous day's range of between Tk 67.60 and Tk 70.45.
In the informal market, the dollar closed lower and it was traded at rates varying between Tk 70.00 and Tk 70.30 against the previous day's range of between Tk 70.00 and Tk 70.20. The informal market experienced steady demand for the dollar, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.56 and Tk 1.73.