Call rate unchanged, dollar gains ground
Tuesday, 24 March 2009
FE Report
The inter-bank call money rate was unchanged Monday due to smooth flow of cash in the market. US dollar, however, slightly gained ground against Bangladesh taka (BDT) in an 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 repeating the previous trading day's range.
Most deals were, however, transacted at rates varying between 7.50 per cent and 8.75 per cent against the previous day's range between 7.50 per cent and 8.50 per cent that reflected an almost steady pressure on liquidity, they said.
The rate, however, went above the normal level in stray deals with borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.
The staggered impact of injecting Tk 5.0 billion into the market by the central bank through repurchase agreement (repo) auctions at an annual interest rate of 8.50 per cent helped maintain a comfortable liquidity.
Dollar gained ground against taka and the exchange rate of dollar moved between Tk 69.01 and Tk 69.03 against the previous trading day's range between Tk 69.0 and Tk 69.02.
The greenback, however, was soft in public deals. Cash dollar was transacted at rates varying between Tk 67.85 and Tk 69.60 against the previous trading day's range between Tk 67.85 and Tk 70.85.
In the informal market, dollar was mostly steady and it was traded mainly at rates varying between Tk 68.20 and Tk 68.60 against the previous day's range between Tk 68.30 and Tk 68.60. The informal market, however, experienced a steady demand for the foreign currency, money dealers said.
The exchange rate of Indian rupee against taka fluctuated between Tk 1.2938 and Tk 1.3709.
In the regional market, most currencies were steady. The exchange rate of dollar against Indian rupee moved between Rs 51.1950 and Rs 52.1950 and Pakistani rupee between Rs 80.0 and Rs 80.75. Besides, the exchange rate of dollar against Malaysian ringgit varied between 3.6260 ringgit and 3.6526 ringgit and that against the Thai currency between 34.85 baht and 35.85 baht.
The inter-bank call money rate was unchanged Monday due to smooth flow of cash in the market. US dollar, however, slightly gained ground against Bangladesh taka (BDT) in an 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 repeating the previous trading day's range.
Most deals were, however, transacted at rates varying between 7.50 per cent and 8.75 per cent against the previous day's range between 7.50 per cent and 8.50 per cent that reflected an almost steady pressure on liquidity, they said.
The rate, however, went above the normal level in stray deals with borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.
The staggered impact of injecting Tk 5.0 billion into the market by the central bank through repurchase agreement (repo) auctions at an annual interest rate of 8.50 per cent helped maintain a comfortable liquidity.
Dollar gained ground against taka and the exchange rate of dollar moved between Tk 69.01 and Tk 69.03 against the previous trading day's range between Tk 69.0 and Tk 69.02.
The greenback, however, was soft in public deals. Cash dollar was transacted at rates varying between Tk 67.85 and Tk 69.60 against the previous trading day's range between Tk 67.85 and Tk 70.85.
In the informal market, dollar was mostly steady and it was traded mainly at rates varying between Tk 68.20 and Tk 68.60 against the previous day's range between Tk 68.30 and Tk 68.60. The informal market, however, experienced a steady demand for the foreign currency, money dealers said.
The exchange rate of Indian rupee against taka fluctuated between Tk 1.2938 and Tk 1.3709.
In the regional market, most currencies were steady. The exchange rate of dollar against Indian rupee moved between Rs 51.1950 and Rs 52.1950 and Pakistani rupee between Rs 80.0 and Rs 80.75. Besides, the exchange rate of dollar against Malaysian ringgit varied between 3.6260 ringgit and 3.6526 ringgit and that against the Thai currency between 34.85 baht and 35.85 baht.