Call rate slides, dollar soft
FE Report | Friday, 29 August 2008
The inter-bank call money rate fell further Thursday, as the market experienced sufficient flow of cash. The US dollar appeared soft against Bangladesh taka (BDT) in the inter-bank foreign exchange market, as it lost ground, fund managers said.
The call rate moved between 4.00 per cent and 12.00 per cent against previous day's range of between 6.00 per cent and 12.00 per cent.
Most deals were made at rates varying between 6.00 per cent and 7.00 per cent against previous day's range of 7.00 per cent and 8.00 per cent that reflected improvement in liquidity position.
The borrowing of cash by some banks and financial institutions at high rates to meet urgent needs of their clients, however, raised the call rate above normal level in limited deals, fund managers said.
The market witnessed moderate demand for cash, while its liquidity improved due to staggered impact of injecting fund through repurchase agreement (repo), they said.
The dollar showed a downward trend against taka and the exchange rate of the greenback moved between Tk 68.51 and Tk 68.52 against previous trading day's rate of 68.52 in the inter-bank market.
The dollar, on the other hand, gained in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 70.20 against previous trading day's range of between Tk 67.42 and Tk 70.10.
In the informal market, the dollar was mostly steady and it was mainly traded at rates varying between Tk 69.90 and Tk 70.20 against previous day's range of between 70.00 and Tk 70.20. The informal market experienced steady demand for the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka continued to fluctuate 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 43.79 and Rs 43.80 and the Pakistani rupee between Rs 75.50 and Rs 76.90. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.3861 ringgit and 3.3871 ringgit and that against the Thai currency between 34.12 baht and 34.15 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 108.89 yen and 108.91 yen, while the euro moved between 1.4800 dollar and 1.4801 dollar against the greenback.
The call rate moved between 4.00 per cent and 12.00 per cent against previous day's range of between 6.00 per cent and 12.00 per cent.
Most deals were made at rates varying between 6.00 per cent and 7.00 per cent against previous day's range of 7.00 per cent and 8.00 per cent that reflected improvement in liquidity position.
The borrowing of cash by some banks and financial institutions at high rates to meet urgent needs of their clients, however, raised the call rate above normal level in limited deals, fund managers said.
The market witnessed moderate demand for cash, while its liquidity improved due to staggered impact of injecting fund through repurchase agreement (repo), they said.
The dollar showed a downward trend against taka and the exchange rate of the greenback moved between Tk 68.51 and Tk 68.52 against previous trading day's rate of 68.52 in the inter-bank market.
The dollar, on the other hand, gained in public deals and the cash dollar was transacted at rates varying between Tk 67.42 and Tk 70.20 against previous trading day's range of between Tk 67.42 and Tk 70.10.
In the informal market, the dollar was mostly steady and it was mainly traded at rates varying between Tk 69.90 and Tk 70.20 against previous day's range of between 70.00 and Tk 70.20. The informal market experienced steady demand for the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka continued to fluctuate 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 43.79 and Rs 43.80 and the Pakistani rupee between Rs 75.50 and Rs 76.90. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.3861 ringgit and 3.3871 ringgit and that against the Thai currency between 34.12 baht and 34.15 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 108.89 yen and 108.91 yen, while the euro moved between 1.4800 dollar and 1.4801 dollar against the greenback.