Dollar eases, call rate steady
Friday, 27 July 2007
FE Report
The US dollar eased against the Bangladesh taka (BDT) Thursday in the inter-bank foreign exchange market due to moderate demand for the greenback, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.52 and Tk 68.57 against the previous day's range of between Tk 68.64 and Tk 68.66 in the inter-bank foreign exchange market.
The dollar, however, was steady in public deals. The cash dollar was traded at rates varying between Tk 66.70 and Tk 69.90 repeating the previous day's range.
In the informal market, the dollar was also steady and it was traded at rates varying 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 active 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 40.30 and Rs 40.31 and the Pakistani rupee between Rs 60.41 and Rs 60.43.
The call rate in its extreme range fluctuated between 6.50 per cent and 10.00 per cent repeating the previous day's range.
In most deals, the rates, however, fluctuated between 6.50 per cent and 6.70 per cent against the previous day's range of between 6.50 per cent and 6.60 per cent, they said.
The call rate moved above the normal trend, as some non-banking financial institutions borrowed cash at high rates from the inter-bank market in to meet immediate demand of their clients, fund managers said.
The call rate stayed above the bank rate of 5.00 per cent in all deals that indicated higher than expected pressure on liquidity, fund managers said.
The central bank withdrew Tk 28.58 billion through reverse repurchase agreement (repo) auctions at an interest rate of 6.50 per cent per annum.
The US dollar eased against the Bangladesh taka (BDT) Thursday in the inter-bank foreign exchange market due to moderate demand for the greenback, fund managers said.
The exchange rate of the dollar against the BDT ranged between Tk 68.52 and Tk 68.57 against the previous day's range of between Tk 68.64 and Tk 68.66 in the inter-bank foreign exchange market.
The dollar, however, was steady in public deals. The cash dollar was traded at rates varying between Tk 66.70 and Tk 69.90 repeating the previous day's range.
In the informal market, the dollar was also steady and it was traded at rates varying 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 active 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 40.30 and Rs 40.31 and the Pakistani rupee between Rs 60.41 and Rs 60.43.
The call rate in its extreme range fluctuated between 6.50 per cent and 10.00 per cent repeating the previous day's range.
In most deals, the rates, however, fluctuated between 6.50 per cent and 6.70 per cent against the previous day's range of between 6.50 per cent and 6.60 per cent, they said.
The call rate moved above the normal trend, as some non-banking financial institutions borrowed cash at high rates from the inter-bank market in to meet immediate demand of their clients, fund managers said.
The call rate stayed above the bank rate of 5.00 per cent in all deals that indicated higher than expected pressure on liquidity, fund managers said.
The central bank withdrew Tk 28.58 billion through reverse repurchase agreement (repo) auctions at an interest rate of 6.50 per cent per annum.