Market to experience soft tone next week

USD/BDT maintained stable tone last week and was traded around 77.80 levels. We feel that market will be experiencing soft tone next week as the country will start to receive wage earners remittances.
The average daily inter-bank USDBDT transaction volume was about USD 31.40 million against USD 43.35 million of the preceding week.
Most of the banks kept their published foreign exchange rates unchanged throughout the week.  The USD/BDT selling rates for importers of major foreign and private banks was at 77.90-78.50, while US dollar buying rates from exporters were at 76.90-77.50. For non- commercial payments such as telegraphic transfer as donations, wage earners remittance, dollar drafts etc,
the  average  T.T buying rate was in the range of 76.90-77.50 while average T.T selling rate was at 78.1794 on the last working day.
USD-BDT swap market in this week remained active. The daily average volume of swap transaction was around USD 55.00 million.
Local money market
This week, the local call money market was around 5.25 per cent. The Bangladesh Bank supported commercial banks through reverse repo window. Bangladesh Bank accepted 91 days and 182 days T/Bill. The cutoff yield of 91 days was 5.75 per cent and 182 days was 6.50 per cent.
    — Commercial Bank of Ceylon PLC