Call rate unchanged, dollar stable
Wednesday, 19 March 2008
FE Report
The inter-bank call money rate was stable with upward bias Tuesday due to injection of large amount of fresh cash into the market. The US dollar also maintained stable nerve in the inter-bank foreign exchange market, fund managers said.
The call rate fluctuated between 8.00 per cent and 12.50 per cent against previous day's range of between 8.00 and 12.25 per cent.
In most deals, the rate, however, moved between 8.50 per cent and 9.50 per cent against previous day's range of 8.50 per cent and 10.00 per cent indicating mostly higher pressure on liquidity.
The central bank injected Tk 23.30 billion into market through repurchase agreement (repo) at an annual interest rate of 8.50 per cent to provide liquidity support to primary dealers on the day, fund managers said.
It, however, withdrew Tk 3.09 billion from the market through its reverse repo tool at an interest rate of 6.50 per cent per annum that put nominal pressure on liquidity to nominally raise the call rate, they said.
The dollar also remained stable in public deals and it was transacted at rates varying between Tk 67.2263 and Tk 69.50 maintaining previous trading day's range.
The inter-bank call money rate was stable with upward bias Tuesday due to injection of large amount of fresh cash into the market. The US dollar also maintained stable nerve in the inter-bank foreign exchange market, fund managers said.
The call rate fluctuated between 8.00 per cent and 12.50 per cent against previous day's range of between 8.00 and 12.25 per cent.
In most deals, the rate, however, moved between 8.50 per cent and 9.50 per cent against previous day's range of 8.50 per cent and 10.00 per cent indicating mostly higher pressure on liquidity.
The central bank injected Tk 23.30 billion into market through repurchase agreement (repo) at an annual interest rate of 8.50 per cent to provide liquidity support to primary dealers on the day, fund managers said.
It, however, withdrew Tk 3.09 billion from the market through its reverse repo tool at an interest rate of 6.50 per cent per annum that put nominal pressure on liquidity to nominally raise the call rate, they said.
The dollar also remained stable in public deals and it was transacted at rates varying between Tk 67.2263 and Tk 69.50 maintaining previous trading day's range.