Call rate steady, dollar ends stronger
Friday, 15 May 2009
FE Report
The inter-bank call money rate remained mainly steady Thursday with sufficient flow of cash in the market. The US dollar gained strength slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to higher demand for the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 0.70 per cent and 10.0 per cent coinciding with previous trading day's range.
Most deals were, however, transacted at rates varying between 2.0 per cent and 2.50 per cent against previous day's range of 2.0 per cent and 3.0 per cent reflecting stead pressure on liquidity, they said.
The borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, however, raised the call rate above normal trend in stray deals. The non-banking financial institutions borrowed cash at rates moving between 7.0 per cent and 10.0 per cent, fund managers said.
The central bank rejected reverse repurchase bids amounting to Tk 4.0 billion that also helped in maintaining surplus liquidity in the market.
The dollar posted gain against taka and the exchange rate of the greenback stood at Tk 69.03 against previous week's range of between Tk 69.02 and Tk 69.035.
The greenback, however, remained stable in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 70.05 maintaining previous trading day's range.
In the informal market, the dollar was mostly steady and it was traded mainly at rates varying between Tk 69.30 and Tk 69.60 against previous day's range of between Tk 69.30 and Tk 69.50. The informal market experienced steady demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3573 and Tk 1.4151.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 48.9750 and Rs 50.2050 and the Pakistani rupee between Rs 80.10 and Rs 80.80. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4891 ringgit and 3.5388 ringgit and that against the Thai currency between 34.13 baht and 34.8050 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 95.1260 yen and 96.7020 yen, while the euro moved between 1.3566 dollar and 1.3723 dollar against the greenback.
As on May 14, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.34440 per cent for one month, 0.88310 per cent for three months, 1.41250 per cent for six months, 1.59120 per cent for nine months and 1.73250 per cent for twelve months.
The inter-bank call money rate remained mainly steady Thursday with sufficient flow of cash in the market. The US dollar gained strength slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to higher demand for the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 0.70 per cent and 10.0 per cent coinciding with previous trading day's range.
Most deals were, however, transacted at rates varying between 2.0 per cent and 2.50 per cent against previous day's range of 2.0 per cent and 3.0 per cent reflecting stead pressure on liquidity, they said.
The borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, however, raised the call rate above normal trend in stray deals. The non-banking financial institutions borrowed cash at rates moving between 7.0 per cent and 10.0 per cent, fund managers said.
The central bank rejected reverse repurchase bids amounting to Tk 4.0 billion that also helped in maintaining surplus liquidity in the market.
The dollar posted gain against taka and the exchange rate of the greenback stood at Tk 69.03 against previous week's range of between Tk 69.02 and Tk 69.035.
The greenback, however, remained stable in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 70.05 maintaining previous trading day's range.
In the informal market, the dollar was mostly steady and it was traded mainly at rates varying between Tk 69.30 and Tk 69.60 against previous day's range of between Tk 69.30 and Tk 69.50. The informal market experienced steady demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3573 and Tk 1.4151.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 48.9750 and Rs 50.2050 and the Pakistani rupee between Rs 80.10 and Rs 80.80. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4891 ringgit and 3.5388 ringgit and that against the Thai currency between 34.13 baht and 34.8050 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 95.1260 yen and 96.7020 yen, while the euro moved between 1.3566 dollar and 1.3723 dollar against the greenback.
As on May 14, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.34440 per cent for one month, 0.88310 per cent for three months, 1.41250 per cent for six months, 1.59120 per cent for nine months and 1.73250 per cent for twelve months.