Call rate unchanged, dollar weakens
Monday, 27 April 2009
FE Report
The inter-bank call money rate remained steady Sunday despite withdrawal of cash, as the market enjoyed excess liquidity. The US dollar, however, weakened against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to moderate trading, fund managers said.
The call rate in extreme range fluctuated mainly between 0.25 per cent and 10.0 per cent maintaining previous trading day's range.
Most deals were, however, made at rates varying between 0.50 per cent and 0.75 per cent against previous day's range of 0.50 per cent and 1.0 per cent reflecting lower pressure on liquidity, they said.
The call rate, however, went above main trend in stray deals due to 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 government borrowed Tk 5.0 billion through treasury bills without putting any pressure on liquidity.
The central bank refrained from accepting offers worth Tk 11.60 billion against reverse repurchase agreement that helped maintain a highly liquid market.
The dollar fell against taka and the exchange rate of the dollar ranged between Tk 69.02 and Tk 69.03 against previous trading day's range of Tk 69.02 and Tk 69.05.
The market was moderately active due to weekend in the international market.
The inter-bank call money rate remained steady Sunday despite withdrawal of cash, as the market enjoyed excess liquidity. The US dollar, however, weakened against Bangladesh taka (BDT) in the inter-bank foreign exchange market due to moderate trading, fund managers said.
The call rate in extreme range fluctuated mainly between 0.25 per cent and 10.0 per cent maintaining previous trading day's range.
Most deals were, however, made at rates varying between 0.50 per cent and 0.75 per cent against previous day's range of 0.50 per cent and 1.0 per cent reflecting lower pressure on liquidity, they said.
The call rate, however, went above main trend in stray deals due to 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 government borrowed Tk 5.0 billion through treasury bills without putting any pressure on liquidity.
The central bank refrained from accepting offers worth Tk 11.60 billion against reverse repurchase agreement that helped maintain a highly liquid market.
The dollar fell against taka and the exchange rate of the dollar ranged between Tk 69.02 and Tk 69.03 against previous trading day's range of Tk 69.02 and Tk 69.05.
The market was moderately active due to weekend in the international market.