Dollar eases, call rate stable
Friday, 13 July 2007
FE Report
The US dollar slightly eased against the Bangladesh taka (BDT) Thursday in the inter-bank foreign exchange market influenced by limited demand for the greenback, fund managers said.
The market experienced sufficient supply of dollar facilitating the taka to regain some of its earlier losses.
The exchange rate of the dollar against the BDT varied between Tk 68.63 and Tk 68.64 against the previous day's range of between Tk 68.64 and Tk 68.67 in the inter-bank foreign exchange market.
The dollar also lost ground in public deals. The cash dollar was transacted at rates varying between Tk 66.80 and Tk 69.90 against the previous day's range of between Tk 66.90 and Tk 69.90.
In the informal market, the dollar was steady and it was traded at rates swinging between Tk 70.70 and Tk 71.00 in the informal market against the previous day's range of between Tk 70.80 and Tk 71.00. The demand for the greenback was lower in the informal market, money dealers said.
The exchange rate of the Indian rupee against the taka varied between Tk 1.56 and Tk 1.71.
In the regional market, the exchange rate of the dollar against the Indian rupee moved between Rs 40.37 and Rs 40.38 and the Pakistani rupee between Rs 60.41 and Rs 60.43.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4495 ringgit and 3.4525 ringgit, and that against the Thai currency between 33.31 baht and 33.34 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 122.43 yen and 122.46 yen, while the euro moved between 1.3767 dollar and 1.3768 dollar against the greenback.
As on July 12, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 5.32000 per cent for one month, 5.36000 per cent for three months, 5.36938 per cent for six months, 5.38000 per cent for nine-months and 5.39563 per cent for twelve months.
The inter-bank call money rate was steady on the day despite withdrawal of cash through reverse repurchase agreement (repo). The market enjoyed comfortable liquidity, fund managers said.
The rate moved between 6.50 per cent and 10.00 per cent maintaining the previous day's range.
The rates, however, moved between 6.50 per cent and 6.70 per cent in most deals against the previous day's range of between 6.50 per cent and 6.60 per cent, they said.
The call rate went above the normal trend, as some non-banking financial institutions borrowed cash at high rates from the inter-bank market to meet urgent demands of their clients, fund managers said.
The call rate stayed above the bank rate of 5.00 per cent in all deals with the market experiencing higher than expected pressure on liquidity, fund managers said.
The central bank withdrew Tk 11.48 billion through reverse repo auctions at an interest rate of 6.50 per cent per annum.
The US dollar slightly eased against the Bangladesh taka (BDT) Thursday in the inter-bank foreign exchange market influenced by limited demand for the greenback, fund managers said.
The market experienced sufficient supply of dollar facilitating the taka to regain some of its earlier losses.
The exchange rate of the dollar against the BDT varied between Tk 68.63 and Tk 68.64 against the previous day's range of between Tk 68.64 and Tk 68.67 in the inter-bank foreign exchange market.
The dollar also lost ground in public deals. The cash dollar was transacted at rates varying between Tk 66.80 and Tk 69.90 against the previous day's range of between Tk 66.90 and Tk 69.90.
In the informal market, the dollar was steady and it was traded at rates swinging between Tk 70.70 and Tk 71.00 in the informal market against the previous day's range of between Tk 70.80 and Tk 71.00. The demand for the greenback was lower in the informal market, money dealers said.
The exchange rate of the Indian rupee against the taka varied between Tk 1.56 and Tk 1.71.
In the regional market, the exchange rate of the dollar against the Indian rupee moved between Rs 40.37 and Rs 40.38 and the Pakistani rupee between Rs 60.41 and Rs 60.43.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4495 ringgit and 3.4525 ringgit, and that against the Thai currency between 33.31 baht and 33.34 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 122.43 yen and 122.46 yen, while the euro moved between 1.3767 dollar and 1.3768 dollar against the greenback.
As on July 12, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 5.32000 per cent for one month, 5.36000 per cent for three months, 5.36938 per cent for six months, 5.38000 per cent for nine-months and 5.39563 per cent for twelve months.
The inter-bank call money rate was steady on the day despite withdrawal of cash through reverse repurchase agreement (repo). The market enjoyed comfortable liquidity, fund managers said.
The rate moved between 6.50 per cent and 10.00 per cent maintaining the previous day's range.
The rates, however, moved between 6.50 per cent and 6.70 per cent in most deals against the previous day's range of between 6.50 per cent and 6.60 per cent, they said.
The call rate went above the normal trend, as some non-banking financial institutions borrowed cash at high rates from the inter-bank market to meet urgent demands of their clients, fund managers said.
The call rate stayed above the bank rate of 5.00 per cent in all deals with the market experiencing higher than expected pressure on liquidity, fund managers said.
The central bank withdrew Tk 11.48 billion through reverse repo auctions at an interest rate of 6.50 per cent per annum.