Local currency little volatile
Saturday, 8 November 2014
The local currency was little volatile during the week of November 2 to November 6 last and was traded around 77.41 levels.
Bangladesh received $1.01 billion as inward remittances in the month of October, 14 comparing with $1.34 billion in September, 2014. The market will see the same tone next week.
The average daily inter-bank USD/BDT transaction volume was about $35.63 million against around $36.23 million of the week before.
Most of the banks kept their published foreign exchange rates unchanged last week. The USD/BDT selling rates for importers of major Foreign and Private Banks was at 77.60-78.00, while USD Buying rates from exporters were at 76.60-77.00. For non-commercial payments such as Tele Graphic Transfer as donations, wage earners remittance, dollar drafts etc. The average T.T Selling rate was at 77.8402 on the last working day.
USD/BDT Swap market last week was very much active. The daily average volume of swap transaction was around $50.00 million.
The local call money rate observed the same tone and market
traded around 7.50 per cent. The Central Bank supported commercial banks through Repo, Reverse Repo and ALS windows. Bangladesh Bank accepted 91-day T-Bill and 182-day T-Bill. The cutoff yield of 91-day was 7.36 per cent and 182-day was 7.70 per cent. It also accepted 2-Year Govt. Treasury bond at yield of 8.59 per cent.
— Commercial Bank of Ceylon PLC