Call rate steady, dollar stronger
Thursday, 20 March 2008
FE Report
Strong demand for cash kept the inter-bank call money rate steady at high level Wednesday due to the central bank's intervention. The US dollar, however, posted slight gain in the inter-bank foreign exchange market with higher demand for the greenback, fund managers said.
The call rate fluctuated between 8.00 per cent and 12.50 per cent maintaining previous day's range, as the central bank injected large amount of fresh cash into the market using its repurchase agreement (repo) tool.
In most deals, the rate was also confined to previous day's track swinging between 8.50 per cent and 9.50 per cent indicating steady pressure on liquidity.
The US dollar, however, gained slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of increased import payments, fund managers said.
The sufficient supply position influenced the greenback to gain lower than expected, they said.
The exchange rate of the dollar varied between Tk 68.58 and Tk 68.60 against previous day's rate of Tk 68.58 in the inter-bank market.
Strong demand for cash kept the inter-bank call money rate steady at high level Wednesday due to the central bank's intervention. The US dollar, however, posted slight gain in the inter-bank foreign exchange market with higher demand for the greenback, fund managers said.
The call rate fluctuated between 8.00 per cent and 12.50 per cent maintaining previous day's range, as the central bank injected large amount of fresh cash into the market using its repurchase agreement (repo) tool.
In most deals, the rate was also confined to previous day's track swinging between 8.50 per cent and 9.50 per cent indicating steady pressure on liquidity.
The US dollar, however, gained slightly against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of increased import payments, fund managers said.
The sufficient supply position influenced the greenback to gain lower than expected, they said.
The exchange rate of the dollar varied between Tk 68.58 and Tk 68.60 against previous day's rate of Tk 68.58 in the inter-bank market.