Dollar stable, call rate down
Friday, 7 December 2007
FE Report
The US dollar retained its stable nerve against the Bangladesh taka (BDT) Thursday in the inter-bank foreign exchange market in limited transactions, fund managers said.
The inter-bank call rate closed slightly, as the central bank refrained from withdrawing cash from the market through reverse repurchase agreement (repo).
The exchange rate of the dollar stood at Tk 68.61 repeating the previous day's range in the inter-bank foreign exchange market.
The greenback was also unchanged in public deals and the cash dollar was exchanged at rates varying between Tk 67.60 and Tk 69.95 maintaining previous day's range.
In the informal market, the dollar was steady and it was traded at rates fluctuating between Tk 68.00 and Tk 68.30 against the previous day's range of between Tk 68.00 and Tk 68.20. The informal market experienced moderate demand for the dollar on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.56 and Tk 1.77.
In the regional market, the exchange rate of the dollar against the Indian rupee moved between Rs 39.46 and Rs 39.47 and the Pakistani rupee between Rs 61.20 and Rs 61.40. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.3415 ringgit and 3.3445 ringgit, and that against the Thai currency between 33.81 baht and 33.85 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 111.00 yen and 111.02 yen, while the euro moved between 1.4550 dollar and 1.4552 dollar against the greenback.
As on December 06, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 5.25000 per cent for one month, 5.15060 per cent for three months, 4.90380 per cent for six months, 4.52600 per cent for nine months and 4.43380 per cent for twelve months.
The inter-bank call money rate was lower despite strong demand for cash, fund managers said.
The call rate in its extreme range moved between 6.50 per cent and 10.00 per cent against previous day's range of between 6.50 per cent and 10.50 per cent. The rates, however, varied between 6.50 per cent and 6.70 per cent against previous day's range of between 6.60 per cent and 6.70 per cent in most deals in the inter-bank market, they said.
The central bank refrained from withdrawing cash through reverse repo that eased some pressure on liquidity, treasury managers said.
The call rate was above the normal level in some stray deals with some non-banking financial institutions borrowing cash from the inter-bank market at high rates to meet urgent requirement of their clients, fund managers said.
The US dollar retained its stable nerve against the Bangladesh taka (BDT) Thursday in the inter-bank foreign exchange market in limited transactions, fund managers said.
The inter-bank call rate closed slightly, as the central bank refrained from withdrawing cash from the market through reverse repurchase agreement (repo).
The exchange rate of the dollar stood at Tk 68.61 repeating the previous day's range in the inter-bank foreign exchange market.
The greenback was also unchanged in public deals and the cash dollar was exchanged at rates varying between Tk 67.60 and Tk 69.95 maintaining previous day's range.
In the informal market, the dollar was steady and it was traded at rates fluctuating between Tk 68.00 and Tk 68.30 against the previous day's range of between Tk 68.00 and Tk 68.20. The informal market experienced moderate demand for the dollar on the day, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.56 and Tk 1.77.
In the regional market, the exchange rate of the dollar against the Indian rupee moved between Rs 39.46 and Rs 39.47 and the Pakistani rupee between Rs 61.20 and Rs 61.40. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.3415 ringgit and 3.3445 ringgit, and that against the Thai currency between 33.81 baht and 33.85 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 111.00 yen and 111.02 yen, while the euro moved between 1.4550 dollar and 1.4552 dollar against the greenback.
As on December 06, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 5.25000 per cent for one month, 5.15060 per cent for three months, 4.90380 per cent for six months, 4.52600 per cent for nine months and 4.43380 per cent for twelve months.
The inter-bank call money rate was lower despite strong demand for cash, fund managers said.
The call rate in its extreme range moved between 6.50 per cent and 10.00 per cent against previous day's range of between 6.50 per cent and 10.50 per cent. The rates, however, varied between 6.50 per cent and 6.70 per cent against previous day's range of between 6.60 per cent and 6.70 per cent in most deals in the inter-bank market, they said.
The central bank refrained from withdrawing cash through reverse repo that eased some pressure on liquidity, treasury managers said.
The call rate was above the normal level in some stray deals with some non-banking financial institutions borrowing cash from the inter-bank market at high rates to meet urgent requirement of their clients, fund managers said.