Call rate steady, dollar posts nominal gain
Monday, 23 March 2009
FE Report
The inter-bank call money rate remained steady Sunday due to central bank's active intervention. The US dollar, however, appeared slightly stronger against Bangladesh taka (BDT) in the moderately active inter-bank foreign exchange market, fund managers said.
The call rate in extreme range moved mainly between 7.50 per cent and 12.0 per cent maintaining previous trading day's range.
Most deals were, however, made at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 7.50 per cent and 8.75 per cent reflecting mostly a stable market, they said.
The rate, however, rose above normal level in stray deals, as some financial institutions borrowed cash at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.
The central bank injected Tk 5.0 billion into the market through repurchase agreement (repo) auctions at an annual interest rate of 8.50 per cent.
It, on the other hand, refrained from accepting Tk 1.15 billion from the market through reverse repo auction.
The government, however, borrowed Tk 2.50 billion through auctions of treasury bills.
The dollar gained against taka and the exchange rate of the dollar moved between Tk 69.0 and Tk 69.02 against previous trading day's range of between 69.0 and Tk 69.01.
The greenback also gained ground in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 70.85 against previous trading day's range of between Tk 67.81 and Tk 70.85.
The market was moderately active due to weekend in international market.
In the informal market, the dollar was mostly steady and it was traded mainly at rates varying between Tk 68.30 and Tk 68.60 against previous day's range of between Tk 68.20 and Tk 68.60. The informal market, however, experienced steady demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.2938 and Tk 1.3709.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 51.19 and Rs 52.20 and the Pakistani rupee between Rs 80.0 and Rs 80.75. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6424 ringgit and 3.6525 ringgit and that against the Thai currency between 34.81 baht and 35.85 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 95.69 yen and 96.03 yen, while the euro moved between 1.3557 dollar and 1.3588 dollar against the greenback.
As on March 22, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.52180 per cent for one month, 1.22280 per cent for three months, 1.75120 per cent for six months, 1.86120 per cent for nine months and 2.01370 per cent for twelve months.
The inter-bank call money rate remained steady Sunday due to central bank's active intervention. The US dollar, however, appeared slightly stronger against Bangladesh taka (BDT) in the moderately active inter-bank foreign exchange market, fund managers said.
The call rate in extreme range moved mainly between 7.50 per cent and 12.0 per cent maintaining previous trading day's range.
Most deals were, however, made at rates varying between 7.50 per cent and 8.50 per cent against previous day's range of 7.50 per cent and 8.75 per cent reflecting mostly a stable market, they said.
The rate, however, rose above normal level in stray deals, as some financial institutions borrowed cash at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.
The central bank injected Tk 5.0 billion into the market through repurchase agreement (repo) auctions at an annual interest rate of 8.50 per cent.
It, on the other hand, refrained from accepting Tk 1.15 billion from the market through reverse repo auction.
The government, however, borrowed Tk 2.50 billion through auctions of treasury bills.
The dollar gained against taka and the exchange rate of the dollar moved between Tk 69.0 and Tk 69.02 against previous trading day's range of between 69.0 and Tk 69.01.
The greenback also gained ground in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 70.85 against previous trading day's range of between Tk 67.81 and Tk 70.85.
The market was moderately active due to weekend in international market.
In the informal market, the dollar was mostly steady and it was traded mainly at rates varying between Tk 68.30 and Tk 68.60 against previous day's range of between Tk 68.20 and Tk 68.60. The informal market, however, experienced steady demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.2938 and Tk 1.3709.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 51.19 and Rs 52.20 and the Pakistani rupee between Rs 80.0 and Rs 80.75. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6424 ringgit and 3.6525 ringgit and that against the Thai currency between 34.81 baht and 35.85 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 95.69 yen and 96.03 yen, while the euro moved between 1.3557 dollar and 1.3588 dollar against the greenback.
As on March 22, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.52180 per cent for one month, 1.22280 per cent for three months, 1.75120 per cent for six months, 1.86120 per cent for nine months and 2.01370 per cent for twelve months.