Call rate up, dollar stable
Tuesday, 4 March 2008
FE Report
The inter-bank call money rate posted rise Monday on withdrawal of cash from the market through reverse repurchase agreement (repo). The US dollar, on the other hand, remained mostly stable with downward bias in the inter-bank foreign exchange, fund managers said.
The call rate in extreme range fluctuated between 6.50 per cent and 12.00 per cent against previous day's range of 6.50 and 11.00 per cent.
In most deals, the rate, however, fluctuated between 8.50 per cent and 10.00 per cent against previous day's range of between 8.50 per cent and 9.50 per cent that reflected higher pressure on liquidity, they said.
The call rate fluctuated above the normal trend in stray deals made by some commercial banks and financial institutions in overnight borrowing at high rates to meet urgent demands of their clients, fund managers said.
The central bank withdrew Tk 3.09 billion on the day through reverse repo auctions at an annual interest rate of 6.50 per cent.
The US dollar was mostly steady with softening tone against Bangladesh taka (BDT) in the inter-bank foreign exchange market despite higher demand for the greenback, fund managers said.
The exchange rate of the dollar fluctuated between Tk 68.56 and Tk 68.58 against previous day's range of between Tk 68.57 and Tk 68.58 in the inter-bank market.
The dollar was also 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 posted rise Monday on withdrawal of cash from the market through reverse repurchase agreement (repo). The US dollar, on the other hand, remained mostly stable with downward bias in the inter-bank foreign exchange, fund managers said.
The call rate in extreme range fluctuated between 6.50 per cent and 12.00 per cent against previous day's range of 6.50 and 11.00 per cent.
In most deals, the rate, however, fluctuated between 8.50 per cent and 10.00 per cent against previous day's range of between 8.50 per cent and 9.50 per cent that reflected higher pressure on liquidity, they said.
The call rate fluctuated above the normal trend in stray deals made by some commercial banks and financial institutions in overnight borrowing at high rates to meet urgent demands of their clients, fund managers said.
The central bank withdrew Tk 3.09 billion on the day through reverse repo auctions at an annual interest rate of 6.50 per cent.
The US dollar was mostly steady with softening tone against Bangladesh taka (BDT) in the inter-bank foreign exchange market despite higher demand for the greenback, fund managers said.
The exchange rate of the dollar fluctuated between Tk 68.56 and Tk 68.58 against previous day's range of between Tk 68.57 and Tk 68.58 in the inter-bank market.
The dollar was also 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.