Call rate steady, dollar stable
Tuesday, 22 January 2008
FE Report
The inter-bank call money maintained steady level repeating that of previous trend Monday on liquidity flow limitation. The central bank, however, refrained from injecting fresh cash of Tk 2.72 billion through repurchase agreement (repo) bids made commercial banks and financial institutions, fund managers said.
The call rate in extreme fluctuations stayed between 7.00 per cent and 20.00 per cent maintaining the previous day's range. Most deals were, however, made at rates varying between 12.00 per cent and 15.00 per cent against previous day's 12.00 per cent and 20.00 per cent indicating eased pressure on liquidity, they said.
The cash flow in the market was unable to recover the liquidity shortage occurred because of cash reserve ratio (CRR) adjustment and borrowing of fund at record low call rates for temporary investments, they added.
The lender banks preferred to meet their requirements instead of offering cash in the inter-bank market that also put impact on call rate, fund managers said.
The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market despite higher demand for the greenback.
The inter-bank exchange rate of the greenback stood at Tk 68.58 exactly adhering to previous day's rate, fund managers said.
The dollar, however, was slightly stronger in public deals and it was exchanged at rates varying between Tk 67.25 and Tk 69.60 against previous day's range of between Tk 67.25 and Tk 69.50.
The inter-bank call money maintained steady level repeating that of previous trend Monday on liquidity flow limitation. The central bank, however, refrained from injecting fresh cash of Tk 2.72 billion through repurchase agreement (repo) bids made commercial banks and financial institutions, fund managers said.
The call rate in extreme fluctuations stayed between 7.00 per cent and 20.00 per cent maintaining the previous day's range. Most deals were, however, made at rates varying between 12.00 per cent and 15.00 per cent against previous day's 12.00 per cent and 20.00 per cent indicating eased pressure on liquidity, they said.
The cash flow in the market was unable to recover the liquidity shortage occurred because of cash reserve ratio (CRR) adjustment and borrowing of fund at record low call rates for temporary investments, they added.
The lender banks preferred to meet their requirements instead of offering cash in the inter-bank market that also put impact on call rate, fund managers said.
The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market despite higher demand for the greenback.
The inter-bank exchange rate of the greenback stood at Tk 68.58 exactly adhering to previous day's rate, fund managers said.
The dollar, however, was slightly stronger in public deals and it was exchanged at rates varying between Tk 67.25 and Tk 69.60 against previous day's range of between Tk 67.25 and Tk 69.50.