Oct 30 to Nov 3, 2011Commercial Bank of Ceylon

The local call money market was volatile and traded between the range of 12.00 per cent and 21.00 per cent in the past week, according to a press release. Bangladesh Bank (BB) supported commercial banks through its Repo and liquidity windows. The BB had accepted 91-day TBill of Tk 3.00 billion and the cutoff yield was 8.14 per cent - 8.15 per cent. It also accepted five years government Treasury bond worth of Tk 5.00 billion at a yield of 8.50 per cent. US dollar Bangladesh taka remained under pressure even though with the receipt of hefty inward remittances on the eve of Eid-ul- Azha. Bangladesh received $1.04 billion in October as inward remittances against $843.00 million in September, 2011. Meanwhile Bangladesh's foreign exchange reserves stands on $10.34 billion at the end of October from $9.80 billion in September. US dollar Bangladesh taka will remain at present levels next week. The average daily inter-bank transaction volume of US dollar Bangladesh taka was about $13.30 million against $9.52 million of the week before. The average volume was higher than that of the preceding week. The swap market of US dollar Bangladesh taka was active throughout the entire past week. The average daily volume of swap transaction was around $120.15 million in the past week against $67.75 million of the week before. Most of the banks kept its published foreign exchange rates high in the past week. The selling rates of US dollar Bangladesh taka for importers of major foreign and private banks ended at Tk 76.2000-76.6000, while buying rates of US dollar from exporters were at Tk 75.2000-75.6000. The average TT buying rate was in the range of Tk 75.2000-75.6000 while average TT selling rate was at Tk 76.4551 in the last working days, the release added.