Call rate stays at high, dollar soft
Thursday, 18 September 2008
FE Report
The inter-bank call money rate mostly maintained its high level Wednesday although the central bank used its tool to inject large amount of fresh cash into the market. The US dollar, however, weakened slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market mainly due to comfortable supply of the greenback, fund managers said.
The call rate, however, nominally lost its ground and moved between 8.00 per cent and 18.00 per cent against previous day's range of between 10.00 per cent and 18.00 per cent.
Most deals were made at rates varying between 10.00 per cent and 12.00 per cent against previous day's range of 12.00 per cent and 15.00 per cent that reflected easing pressure on liquidity.
The central bank injected fresh cash of Tk 21.00 billion through repurchase agreement (repo) at an annual interest rate of 8.75 per cent to provide liquidity support.
The dollar apparently lost ground against taka and the exchange rate of the greenback fluctuated between Tk 68.51 and Tk 68.52 against previous trading day's rate of Tk 68.52 in the inter-bank market.
The dollar, however, remained steady in public deals and the cash dollar was transacted at rates varying between Tk 67.46 and Tk 69.80 against previous trading day's range of between Tk 67.47 and Tk 69.80.
In the informal market, the dollar was mostly steady and it was mainly traded at rates varying between Tk 70.00 and Tk 70.30 against previous day's range of between 70.00 and Tk 70.25. The informal market experienced slightly higher demand for the foreign currency on the day, money dealers said.
The inter-bank call money rate mostly maintained its high level Wednesday although the central bank used its tool to inject large amount of fresh cash into the market. The US dollar, however, weakened slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market mainly due to comfortable supply of the greenback, fund managers said.
The call rate, however, nominally lost its ground and moved between 8.00 per cent and 18.00 per cent against previous day's range of between 10.00 per cent and 18.00 per cent.
Most deals were made at rates varying between 10.00 per cent and 12.00 per cent against previous day's range of 12.00 per cent and 15.00 per cent that reflected easing pressure on liquidity.
The central bank injected fresh cash of Tk 21.00 billion through repurchase agreement (repo) at an annual interest rate of 8.75 per cent to provide liquidity support.
The dollar apparently lost ground against taka and the exchange rate of the greenback fluctuated between Tk 68.51 and Tk 68.52 against previous trading day's rate of Tk 68.52 in the inter-bank market.
The dollar, however, remained steady in public deals and the cash dollar was transacted at rates varying between Tk 67.46 and Tk 69.80 against previous trading day's range of between Tk 67.47 and Tk 69.80.
In the informal market, the dollar was mostly steady and it was mainly traded at rates varying between Tk 70.00 and Tk 70.30 against previous day's range of between 70.00 and Tk 70.25. The informal market experienced slightly higher demand for the foreign currency on the day, money dealers said.