Local currency depreciates more

The local currency depreciated further against the greenback during the week of November 16 to November 20 last as the market is making some big import payments. The market might see the same tone next week as well.
The average daily inter-bank USD/BDT transaction volume was about $5.81 million against around $35.02 million of the week before.
Most of the banks kept their published foreign exchange rates high at the later part of the week. The USD/BDT selling rates for importers of major foreign and private banks was at 77.80-78.90, while USD buying rates from exporters were at 76.80-77.90. For non- commercial payments such as Tele Graphic Transfer as donations, wage earners remittance, dollar drafts etc, the average T.T Buying rate hovered between the range of 76.80-77.90 while average T.T Selling rate was at 78.1402 on the last working day.
USD/BDT swap market last week was vibrant with daily average volume of swap transaction of around $50.00 million.
The local call money rate observed the same tone and market traded around 7.25 per cent. Bangladesh Bank supported commercial banks through reverse repo and ALS windows. Bangladesh Bank accepted 91-day T-Bill and 364-day T-Bill. The cutoff yield of 91-day was 7.38 per cent and 364-day was 8.21 per cent. It also accepted 10-Year Govt. Treasury bond at yield of 10.92 per cent.
    — Commercial  Bank  of  Ceylon PLC