Commercial Bank of Ceylon
Saturday, 9 June 2007
June 03 - June 07, 2007
The local market of US dollar and Bangladesh taka was active last week.
Total volume of transaction was around $89.75 million against $55.15 million in the previous week. US dollar and Bangladesh taka appreciated slightly during the past week, as there was some demand for import-related payments. Dealers are expecting the demand for dollar to remain stable in the coming week also.
In the past week, the transaction of daily average volume of US dollar and Bangladesh taka was $17.95 million against $11.03 million in the previous week, which was 62.74 per cent higher.
On the other hand, the transaction of daily average volume of FC BDT was Tk 0.36 million against Tk 0.29 million in the previous week, which was 21.09 per cent higher.
The selling rates of US dollar for importers of major foreign and private banks and Bangladesh taka ended at Tk 69.20/69.50, while buying rates of US dollar from exporters were Tk 68.1506/68.48.
For non-commercial payments (telegraphic transfer as donations, wage earners' remittance, dollar drafts etc), the range of average TT buying rates from customers was between Tk 68.20 and Tk 68.50, while average TT selling rate was Tk 69.19/69.47.
The swap market of US dollar and Bangladesh taka was quite active in the past week. Swap transactions of around Tk 38 million took place in the last week.
In the unofficial market, the rate of US dollar/ Bangladesh taka was Tk 70.60/70.90, against previous week's Tk 70.50/71.00.
Standard Chartered Bank
The demand for US dollar was stable in the past week. There was ample liquidity in the market and dollar remained steady against Bangladesh taka and there was very little movement in the last week.
Yen hit a record low against euro, as investors piled back into carry trades. Dollar recovered against euro at the beginning of the week, but lost ground again as the ECB raised its interest rate to 4.0 per cent indicating further rate hikes in the future.
However, dollar got some respite as the US Fed was not expected to cut its benchmark interest rate anytime soon, backed by some good jobs data.
US dollar initially gained ground against euro, backed by robust US jobs data. This trimmed expectation that Federal Reserve would cut its benchmark interest rate from 5.25 per cent.
The reduced interest rate differential has given euro a boost against its major rivals. Euro has also been boosted by the fact that major economies have been performing very well.
Yen hit a record low against euro and basket of other currencies. Yen has been severely impacted because of its low interest rate, which makes it a prime candidate for carry trades. The low-yielding yen is borrowed and is used to invest in high yielding assets such as euro and dollar.
The local market of US dollar and Bangladesh taka was active last week.
Total volume of transaction was around $89.75 million against $55.15 million in the previous week. US dollar and Bangladesh taka appreciated slightly during the past week, as there was some demand for import-related payments. Dealers are expecting the demand for dollar to remain stable in the coming week also.
In the past week, the transaction of daily average volume of US dollar and Bangladesh taka was $17.95 million against $11.03 million in the previous week, which was 62.74 per cent higher.
On the other hand, the transaction of daily average volume of FC BDT was Tk 0.36 million against Tk 0.29 million in the previous week, which was 21.09 per cent higher.
The selling rates of US dollar for importers of major foreign and private banks and Bangladesh taka ended at Tk 69.20/69.50, while buying rates of US dollar from exporters were Tk 68.1506/68.48.
For non-commercial payments (telegraphic transfer as donations, wage earners' remittance, dollar drafts etc), the range of average TT buying rates from customers was between Tk 68.20 and Tk 68.50, while average TT selling rate was Tk 69.19/69.47.
The swap market of US dollar and Bangladesh taka was quite active in the past week. Swap transactions of around Tk 38 million took place in the last week.
In the unofficial market, the rate of US dollar/ Bangladesh taka was Tk 70.60/70.90, against previous week's Tk 70.50/71.00.
Standard Chartered Bank
The demand for US dollar was stable in the past week. There was ample liquidity in the market and dollar remained steady against Bangladesh taka and there was very little movement in the last week.
Yen hit a record low against euro, as investors piled back into carry trades. Dollar recovered against euro at the beginning of the week, but lost ground again as the ECB raised its interest rate to 4.0 per cent indicating further rate hikes in the future.
However, dollar got some respite as the US Fed was not expected to cut its benchmark interest rate anytime soon, backed by some good jobs data.
US dollar initially gained ground against euro, backed by robust US jobs data. This trimmed expectation that Federal Reserve would cut its benchmark interest rate from 5.25 per cent.
The reduced interest rate differential has given euro a boost against its major rivals. Euro has also been boosted by the fact that major economies have been performing very well.
Yen hit a record low against euro and basket of other currencies. Yen has been severely impacted because of its low interest rate, which makes it a prime candidate for carry trades. The low-yielding yen is borrowed and is used to invest in high yielding assets such as euro and dollar.