Call rate steady, dollar marks gain
Thursday, 11 June 2009
FE Report
The inter-bank call money rate remained steady Wednesday due to sufficient supply of cash in the market. The US dollar, however, gained against Bangladesh taka (BDT) in the inter-bank foreign exchange on central bank's intervention, fund managers said.
The call rate in extreme range fluctuated mainly between 0.25 per cent and 10.0 per cent maintaining previous trading day's range.
Most deals, however, were transacted at rates varying between 0.50 per cent and 1.50 per cent against previous day's range of 0.50 per cent and 0.75 per cent reflecting higher pressure on liquidity, they said.
The rate, however, rose above normal trend in stray deals due to borrowing of cash from inter-bank market by some financial institutions at high rates to meet urgent needs of their clients. The rate in this connection mainly fluctuated between 7.0 per cent and 10.0 per cent, fund managers said.
The dollar gained against taka and the exchange rate of the greenback fluctuated between Tk 69.05 and Tk 69.08 against previous week's rate at Tk 69.03.
The central bank bought the greenback from commercial banks putting some pressure on liquidity.
The inter-bank call money rate remained steady Wednesday due to sufficient supply of cash in the market. The US dollar, however, gained against Bangladesh taka (BDT) in the inter-bank foreign exchange on central bank's intervention, fund managers said.
The call rate in extreme range fluctuated mainly between 0.25 per cent and 10.0 per cent maintaining previous trading day's range.
Most deals, however, were transacted at rates varying between 0.50 per cent and 1.50 per cent against previous day's range of 0.50 per cent and 0.75 per cent reflecting higher pressure on liquidity, they said.
The rate, however, rose above normal trend in stray deals due to borrowing of cash from inter-bank market by some financial institutions at high rates to meet urgent needs of their clients. The rate in this connection mainly fluctuated between 7.0 per cent and 10.0 per cent, fund managers said.
The dollar gained against taka and the exchange rate of the greenback fluctuated between Tk 69.05 and Tk 69.08 against previous week's rate at Tk 69.03.
The central bank bought the greenback from commercial banks putting some pressure on liquidity.