Call rate unchanged, dollar stronger
Monday, 17 November 2008
FE Report
The inter-bank call money rate remained unchanged Sunday despite withdrawal of cash from the market through treasury bills. The US dollar, however, gained against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to buying pressure, fund managers said.
The call rate in extreme fluctuations moved mainly between 6.50 per cent and 11.50 per cent maintaining previous day's range.
Most deals were, however, transacted at rates varying between 6.50 per cent and 7.00 per cent against previous day's range of 6.50 per cent and 6.80 per cent indicating steady pressure on liquidity, they said.
Some banks and financial institutions, however, borrowed cash at high rates in stray deals from inter-bank market in stray deals to meet urgent needs of their clients that raised the call rate above main trend, fund managers said.
The government borrowed Tk 5.00 billion through auctions of treasury bills.
The dollar appeared stronger against taka in the inter-bank market due to buying spree and the exchange rate of the greenback ranged between Tk 70.00 and Tk 68.75 against previous trading day's range of Tk 68.68 and Tk 68.75.
The market was moderately active due to weekend in the international market.
The greenback, however, maintained steady level in public deals and the cash dollar was transacted at rates varying between Tk 67.62 and Tk 70.80 repeating previous trading day's range.
In the informal market, the dollar, however, fell and it was traded mainly at rates varying between Tk 70.00 and Tk 70.20 against previous day's range of between Tk 70.20 and Tk 70.60. The informal market experienced moderate demand for the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3963 and Tk 1.4010.
In the regional market, most currencies weakened. The exchange rate of the dollar against the Indian rupee moved between Rs 48.82 and Rs 48.90 and the Pakistani rupee between Rs 80.00 and Rs 80.50. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6145 ringgit and 3.6225 ringgit and that against the Thai currency between 34.98 baht and 35.11 baht.
The inter-bank call money rate remained unchanged Sunday despite withdrawal of cash from the market through treasury bills. The US dollar, however, gained against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to buying pressure, fund managers said.
The call rate in extreme fluctuations moved mainly between 6.50 per cent and 11.50 per cent maintaining previous day's range.
Most deals were, however, transacted at rates varying between 6.50 per cent and 7.00 per cent against previous day's range of 6.50 per cent and 6.80 per cent indicating steady pressure on liquidity, they said.
Some banks and financial institutions, however, borrowed cash at high rates in stray deals from inter-bank market in stray deals to meet urgent needs of their clients that raised the call rate above main trend, fund managers said.
The government borrowed Tk 5.00 billion through auctions of treasury bills.
The dollar appeared stronger against taka in the inter-bank market due to buying spree and the exchange rate of the greenback ranged between Tk 70.00 and Tk 68.75 against previous trading day's range of Tk 68.68 and Tk 68.75.
The market was moderately active due to weekend in the international market.
The greenback, however, maintained steady level in public deals and the cash dollar was transacted at rates varying between Tk 67.62 and Tk 70.80 repeating previous trading day's range.
In the informal market, the dollar, however, fell and it was traded mainly at rates varying between Tk 70.00 and Tk 70.20 against previous day's range of between Tk 70.20 and Tk 70.60. The informal market experienced moderate demand for the foreign currency on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3963 and Tk 1.4010.
In the regional market, most currencies weakened. The exchange rate of the dollar against the Indian rupee moved between Rs 48.82 and Rs 48.90 and the Pakistani rupee between Rs 80.00 and Rs 80.50. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6145 ringgit and 3.6225 ringgit and that against the Thai currency between 34.98 baht and 35.11 baht.