Call rate rises, dollar steady
Friday, 15 June 2007
FE Report
The inter-bank call money rate rose Thursday due to withdrawal of large amount of cash through reverse repurchase agreement (repo), fund managers said.
The rate moved between 6.50 per cent and 11.50 per cent against the previous day's range of between 6.75 per cent and 10.00 per cent.
The rates, however, moved between 6.75 per cent and 7.50 per cent in most deals against the previous day's range of between 7.00 per cent and 7.50 per cent, they 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.
Some non-banking financial institutions had to borrow cash from the interbank market at high rates to meet immediate requirements of the clients. This influenced the call rate to move above the normal trend, fund managers said.
The central bank withdrew Tk 18.16 billion against twenty-three reverse repo bids of three-day tenor at interest rate of 6.50 per cent per annum.
The US dollar was, however, steady against the Bangladesh taka (BDT) on the day in the interbank foreign exchange market. The demand for the greenback was stable, fund managers said.
The greenback continued to move below Tk 69.00 level throughout the day.
The exchange rate of the dollar against the BDT ranged between Tk 68.70 and Tk 68.83 against the previous day's range of between Tk 68.70 and Tk 68.80 in the inter-bank foreign exchange market.
FE Report
The inter-bank call money rate rose Thursday due to withdrawal of large amount of cash through reverse repurchase agreement (repo), fund managers said.
The rate moved between 6.50 per cent and 11.50 per cent against the previous day's range of between 6.75 per cent and 10.00 per cent.
The rates, however, moved between 6.75 per cent and 7.50 per cent in most deals against the previous day's range of between 7.00 per cent and 7.50 per cent, they 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.
Some non-banking financial institutions had to borrow cash from the interbank market at high rates to meet immediate requirements of the clients. This influenced the call rate to move above the normal trend, fund managers said.
The central bank withdrew Tk 18.16 billion against twenty-three reverse repo bids of three-day tenor at interest rate of 6.50 per cent per annum.
The US dollar was, however, steady against the Bangladesh taka (BDT) on the day in the interbank foreign exchange market. The demand for the greenback was stable, fund managers said.
The greenback continued to move below Tk 69.00 level throughout the day.
The exchange rate of the dollar against the BDT ranged between Tk 68.70 and Tk 68.83 against the previous day's range of between Tk 68.70 and Tk 68.80 in the inter-bank foreign exchange market.
The dollar was also remained steady in public deals. The cash dollar in public deals was transacted at rates varying between Tk 67.05 and Tk 69.90 repeating to previous day's range.
In the informal market, the dollar, however, gained and it was traded at rates varying between Tk 70.80 and Tk 71.00 in the informal market against the previous day's range of between Tk 70.70 and Tk 71.00. The demand for the greenback was higher in the informal market, money dealers said.
The exchange rate of the Indian rupee against the taka varied between Tk 1.56 and Tk 1.71.
In the regional market, the exchange rates of the dollar against the Indian rupee fluctuated between Rs 40.87 and Rs 40.89 and the Pakistani rupee between Rs 60.56 and Rs 60.64.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4630 ringgit and 3.4680 ringgit, and that against the Thai currency between 34.63 baht and 34.66 baht.
The inter-bank call money rate rose Thursday due to withdrawal of large amount of cash through reverse repurchase agreement (repo), fund managers said.
The rate moved between 6.50 per cent and 11.50 per cent against the previous day's range of between 6.75 per cent and 10.00 per cent.
The rates, however, moved between 6.75 per cent and 7.50 per cent in most deals against the previous day's range of between 7.00 per cent and 7.50 per cent, they 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.
Some non-banking financial institutions had to borrow cash from the interbank market at high rates to meet immediate requirements of the clients. This influenced the call rate to move above the normal trend, fund managers said.
The central bank withdrew Tk 18.16 billion against twenty-three reverse repo bids of three-day tenor at interest rate of 6.50 per cent per annum.
The US dollar was, however, steady against the Bangladesh taka (BDT) on the day in the interbank foreign exchange market. The demand for the greenback was stable, fund managers said.
The greenback continued to move below Tk 69.00 level throughout the day.
The exchange rate of the dollar against the BDT ranged between Tk 68.70 and Tk 68.83 against the previous day's range of between Tk 68.70 and Tk 68.80 in the inter-bank foreign exchange market.
FE Report
The inter-bank call money rate rose Thursday due to withdrawal of large amount of cash through reverse repurchase agreement (repo), fund managers said.
The rate moved between 6.50 per cent and 11.50 per cent against the previous day's range of between 6.75 per cent and 10.00 per cent.
The rates, however, moved between 6.75 per cent and 7.50 per cent in most deals against the previous day's range of between 7.00 per cent and 7.50 per cent, they 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.
Some non-banking financial institutions had to borrow cash from the interbank market at high rates to meet immediate requirements of the clients. This influenced the call rate to move above the normal trend, fund managers said.
The central bank withdrew Tk 18.16 billion against twenty-three reverse repo bids of three-day tenor at interest rate of 6.50 per cent per annum.
The US dollar was, however, steady against the Bangladesh taka (BDT) on the day in the interbank foreign exchange market. The demand for the greenback was stable, fund managers said.
The greenback continued to move below Tk 69.00 level throughout the day.
The exchange rate of the dollar against the BDT ranged between Tk 68.70 and Tk 68.83 against the previous day's range of between Tk 68.70 and Tk 68.80 in the inter-bank foreign exchange market.
The dollar was also remained steady in public deals. The cash dollar in public deals was transacted at rates varying between Tk 67.05 and Tk 69.90 repeating to previous day's range.
In the informal market, the dollar, however, gained and it was traded at rates varying between Tk 70.80 and Tk 71.00 in the informal market against the previous day's range of between Tk 70.70 and Tk 71.00. The demand for the greenback was higher in the informal market, money dealers said.
The exchange rate of the Indian rupee against the taka varied between Tk 1.56 and Tk 1.71.
In the regional market, the exchange rates of the dollar against the Indian rupee fluctuated between Rs 40.87 and Rs 40.89 and the Pakistani rupee between Rs 60.56 and Rs 60.64.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4630 ringgit and 3.4680 ringgit, and that against the Thai currency between 34.63 baht and 34.66 baht.