Dollar stronger, call rate steady
Tuesday, 14 August 2007
FE Report
The US dollar ended stronger against the Bangladesh taka (BDT) Monday in the inter-bank foreign exchange market although the demand for the greenback appeared steady, fund managers said.
The exchange rate of the dollar against the BDT fluctuated between the range of Tk 68.60 and Tk 68.80 against previous day's range of between Tk 68.55 and Tk 68.65 in the inter-bank foreign exchange market.
The dollar also gained ground in public deals and the cash dollar was transacted at rates varying between Tk 67.20 and Tk 69.90 against the previous day's range of between Tk 67.00 and Tk 69.90.
The inter-bank call money rate remained unchanged on the day in an active market despite withdrawal of cash through reverse repurchase agreement (repo).
The call rate in its extreme range moved between 6.50 per cent and 10.00 per cent maintaining 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 rose above normal trend in some stray deals, as some non-banking financial institutions borrowed cash from the inter-bank market at high rates to meet immediate demands of their clients, fund managers said.
The US dollar ended stronger against the Bangladesh taka (BDT) Monday in the inter-bank foreign exchange market although the demand for the greenback appeared steady, fund managers said.
The exchange rate of the dollar against the BDT fluctuated between the range of Tk 68.60 and Tk 68.80 against previous day's range of between Tk 68.55 and Tk 68.65 in the inter-bank foreign exchange market.
The dollar also gained ground in public deals and the cash dollar was transacted at rates varying between Tk 67.20 and Tk 69.90 against the previous day's range of between Tk 67.00 and Tk 69.90.
The inter-bank call money rate remained unchanged on the day in an active market despite withdrawal of cash through reverse repurchase agreement (repo).
The call rate in its extreme range moved between 6.50 per cent and 10.00 per cent maintaining 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 rose above normal trend in some stray deals, as some non-banking financial institutions borrowed cash from the inter-bank market at high rates to meet immediate demands of their clients, fund managers said.