Call rate steady, dollar remains stable
Friday, 5 December 2008
FE Report
The inter-bank call money rate remained steady against stronger demand for cash, as the central bank injected large amount of fresh fund through repurchase agreement (repo). The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to higher supply of the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 7.50 per cent and 12.50 per cent against previous day's range of between 7.90 per cent and 12.0 per cent.
Most deals were, however, transacted at rates varying between 8.50 per cent and 10.50 per cent against previous day's range of 8.0 per cent and 10.00 per cent that reflected strong pressure on liquidity, they said.
The borrowing of cash by some banks and financial institutions at high rates from inter-bank market to meet urgent needs of their clients raised the call rate above the main trend in stray deals, fund managers said.
The central bank injected fresh cash amounting to Tk 36.3095 billion against repo bids at an annual interest rate of 8.75 per cent. It reduced pressure on liquidity and helped to maintain balance between the demand and the supply, they said.
The dollar maintained stable tone against taka in the inter-bank market despite higher demand for the foreign currency due to increased supply of the greenback. The exchange rate of the greenback stood at Tk 68.88 against previous trading day's range of between Tk 68.87 and Tk 68.88.
The greenback, however, remained mostly steady 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 between Tk 67.87 and Tk 70.85.
In the informal market, the dollar remained steady and it was traded mainly at rates varying between Tk 68.40 and Tk 68.60 against previous day's range of between Tk 68.40 and Tk 68.70. The informal market experienced higher demand for as well as increased supply of the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3759 and Tk 1.3787.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 49.95 and Rs 49.96 and the Pakistani rupee between Rs 78.65 and Rs 79.00.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6395 ringgit and 3.6420 ringgit and that against the Thai currency between 35.69 baht and 35.74 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 92.72 yen and 92.75 yen, while the euro moved between 1.2624 dollar and 1.2625 dollar against the greenback.
As on December 04, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 1.89000 per cent for one month, 2.20130 per cent for three months, 2.55630 per cent for six months, 2.60250 per cent for nine months and 2.70380 per cent for twelve months.
The inter-bank call money rate remained steady against stronger demand for cash, as the central bank injected large amount of fresh fund through repurchase agreement (repo). The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to higher supply of the greenback, fund managers said.
The call rate in extreme range fluctuated mainly between 7.50 per cent and 12.50 per cent against previous day's range of between 7.90 per cent and 12.0 per cent.
Most deals were, however, transacted at rates varying between 8.50 per cent and 10.50 per cent against previous day's range of 8.0 per cent and 10.00 per cent that reflected strong pressure on liquidity, they said.
The borrowing of cash by some banks and financial institutions at high rates from inter-bank market to meet urgent needs of their clients raised the call rate above the main trend in stray deals, fund managers said.
The central bank injected fresh cash amounting to Tk 36.3095 billion against repo bids at an annual interest rate of 8.75 per cent. It reduced pressure on liquidity and helped to maintain balance between the demand and the supply, they said.
The dollar maintained stable tone against taka in the inter-bank market despite higher demand for the foreign currency due to increased supply of the greenback. The exchange rate of the greenback stood at Tk 68.88 against previous trading day's range of between Tk 68.87 and Tk 68.88.
The greenback, however, remained mostly steady 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 between Tk 67.87 and Tk 70.85.
In the informal market, the dollar remained steady and it was traded mainly at rates varying between Tk 68.40 and Tk 68.60 against previous day's range of between Tk 68.40 and Tk 68.70. The informal market experienced higher demand for as well as increased supply of the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3759 and Tk 1.3787.
In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 49.95 and Rs 49.96 and the Pakistani rupee between Rs 78.65 and Rs 79.00.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6395 ringgit and 3.6420 ringgit and that against the Thai currency between 35.69 baht and 35.74 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 92.72 yen and 92.75 yen, while the euro moved between 1.2624 dollar and 1.2625 dollar against the greenback.
As on December 04, 2008, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 1.89000 per cent for one month, 2.20130 per cent for three months, 2.55630 per cent for six months, 2.60250 per cent for nine months and 2.70380 per cent for twelve months.