Call rate steady, dollar loses ground
Tuesday, 23 September 2008
FE Report
The inter-bank call money rate maintained steady level Monday due to adequate flow of cash in the market . The US dollar, however, lost ground against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of sufficient supply of the greenback, fund managers said.
The call rate mainly moved between 8.00 per cent and 16.00 per cent maintaining previous day's range.
Most transactions were, however, made at rates varying between 9.00 per cent and 12.00 per cent against previous day's range of 10.00 per cent and 12.00 per cent reflecting easing pressure on liquidity.
The central bank injected fresh cash of Tk 12.70 billion through repurchase agreement (repo) Monday at an annual interest rate of 8.75 per cent to provide liquidity support.
The dollar lost ground against taka and the exchange rate of the greenback moved between Tk 68.50 and Tk 68.52 against previous trading day's range of between Tk 68.51 and Tk 68.52 in the inter-bank market.
The dollar also remained steady in public deals and the cash dollar was transacted at rates varying between Tk 67.47 and Tk 69.80 against previous trading day's range of between Tk 67.46 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 Tk 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 maintained steady level Monday due to adequate flow of cash in the market . The US dollar, however, lost ground against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of sufficient supply of the greenback, fund managers said.
The call rate mainly moved between 8.00 per cent and 16.00 per cent maintaining previous day's range.
Most transactions were, however, made at rates varying between 9.00 per cent and 12.00 per cent against previous day's range of 10.00 per cent and 12.00 per cent reflecting easing pressure on liquidity.
The central bank injected fresh cash of Tk 12.70 billion through repurchase agreement (repo) Monday at an annual interest rate of 8.75 per cent to provide liquidity support.
The dollar lost ground against taka and the exchange rate of the greenback moved between Tk 68.50 and Tk 68.52 against previous trading day's range of between Tk 68.51 and Tk 68.52 in the inter-bank market.
The dollar also remained steady in public deals and the cash dollar was transacted at rates varying between Tk 67.47 and Tk 69.80 against previous trading day's range of between Tk 67.46 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 Tk 70.00 and Tk 70.25. The informal market experienced slightly higher demand for the foreign currency on the day, money dealers said.