Dollar strong, call rate low
Monday, 19 November 2007
FE Report
The US dollar sustained its strength against the Bangladesh taka (BDT) Sunday in the inter-bank foreign exchange market with stable demand for the greenback, fund managers said.
The market was moderately active due to weekend in the international market, they said.
The inter-bank call rate ended nominally low despite withdrawal of cash through routine auctions of treasury bills (T-bills).
The exchange rate of the dollar varied between Tk 68.60 and Tk 68.61 against previous day's rate at Tk 68.61 in the inter-bank foreign exchange market.
The greenback was steady in public deals and the cash dollar was exchanged at rates varying between Tk 67.60 and Tk 69.90 maintaining the previous day's range.
In the informal market, the dollar was almost stable and it was traded at rates varying between Tk 69.50 and Tk 69.80 against the previous day's range of between Tk 69.60 and Tk 69.80. The informal market experienced steady demand for the dollar, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.56 and Tk 1.77.
The inter-bank call money rate closed lower despite strong demand for cash and withdrawal of cash through treasury bills, fund managers said.
The call rate in its extreme range moved between 6.50 per cent and 10.00 per cent against the previous day's range of between 6.50 per cent and 10.50 per cent.
In most deals, the rates moved between 6.50 per cent and 6.75 per cent repeating previous day's range in the inter-bank market, they said.
The call rate rose above normal trend with some non-banking financial institutions borrowing cash at high rates from the inter-bank market in stray deals to meet urgent demands of their clients , fund managers said.
The US dollar sustained its strength against the Bangladesh taka (BDT) Sunday in the inter-bank foreign exchange market with stable demand for the greenback, fund managers said.
The market was moderately active due to weekend in the international market, they said.
The inter-bank call rate ended nominally low despite withdrawal of cash through routine auctions of treasury bills (T-bills).
The exchange rate of the dollar varied between Tk 68.60 and Tk 68.61 against previous day's rate at Tk 68.61 in the inter-bank foreign exchange market.
The greenback was steady in public deals and the cash dollar was exchanged at rates varying between Tk 67.60 and Tk 69.90 maintaining the previous day's range.
In the informal market, the dollar was almost stable and it was traded at rates varying between Tk 69.50 and Tk 69.80 against the previous day's range of between Tk 69.60 and Tk 69.80. The informal market experienced steady demand for the dollar, money dealers said.
The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.56 and Tk 1.77.
The inter-bank call money rate closed lower despite strong demand for cash and withdrawal of cash through treasury bills, fund managers said.
The call rate in its extreme range moved between 6.50 per cent and 10.00 per cent against the previous day's range of between 6.50 per cent and 10.50 per cent.
In most deals, the rates moved between 6.50 per cent and 6.75 per cent repeating previous day's range in the inter-bank market, they said.
The call rate rose above normal trend with some non-banking financial institutions borrowing cash at high rates from the inter-bank market in stray deals to meet urgent demands of their clients , fund managers said.