Call rate steady, dollar posts sharp gain
FE Report | Tuesday, 10 March 2009
The inter-bank call money rate remained steady Monday despite withdrawal of cash from the market through bonds. The US dollar posted sharp gain against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to strong demand for the greenback, 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 steady pressure on liquidity, they said.
The rate, however, moved above main trend in stray deals, as some financial institutions borrowed cash from inter-bank market at high rates to meet urgent needs of their clients, fund managers said.
The central bank withdrew Tk 1.50 billion, including Tk 527.50 million devolved to primary dealers, through 15-year Government Treasury bonds at an interest rate of 12.14 per cent per annum.
The dollar posted significant gain against taka on higher import payment obligations and the exchange rate of the dollar moved between Tk 68.96 and Tk 68.97 against previous trading day's rate of Tk 68.93.
The market was active due to beginning of trading in international market after weekend.
The greenback, however, was mostly steady in public deals and the cash dollar was transacted at rates varying between Tk 67.76 and Tk 70.85 against previous trading day's range of between Tk 67.77 and Tk 70.85.
In the informal market, the dollar was steady and it was traded mainly at rates varying between Tk 68.20 and Tk 68.40 against previous day's range of between Tk 68.10 and Tk 68.40. The informal market experienced moderate demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.2931 and Tk 1.3737.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 51.3250 and Rs 52.3250 and the Pakistani rupee between Rs 80.64 and Rs 80.66. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6562 ringgit and 3.7939 ringgit and that against the Thai currency between 35.4950 baht and 36.4950 baht.
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 steady pressure on liquidity, they said.
The rate, however, moved above main trend in stray deals, as some financial institutions borrowed cash from inter-bank market at high rates to meet urgent needs of their clients, fund managers said.
The central bank withdrew Tk 1.50 billion, including Tk 527.50 million devolved to primary dealers, through 15-year Government Treasury bonds at an interest rate of 12.14 per cent per annum.
The dollar posted significant gain against taka on higher import payment obligations and the exchange rate of the dollar moved between Tk 68.96 and Tk 68.97 against previous trading day's rate of Tk 68.93.
The market was active due to beginning of trading in international market after weekend.
The greenback, however, was mostly steady in public deals and the cash dollar was transacted at rates varying between Tk 67.76 and Tk 70.85 against previous trading day's range of between Tk 67.77 and Tk 70.85.
In the informal market, the dollar was steady and it was traded mainly at rates varying between Tk 68.20 and Tk 68.40 against previous day's range of between Tk 68.10 and Tk 68.40. The informal market experienced moderate demand for the foreign currency, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.2931 and Tk 1.3737.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 51.3250 and Rs 52.3250 and the Pakistani rupee between Rs 80.64 and Rs 80.66. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6562 ringgit and 3.7939 ringgit and that against the Thai currency between 35.4950 baht and 36.4950 baht.