Adequate remittance flow helps situation stable

USD/BDT  maintained stable tone last week as well. During the Ramadan month the country received good amount of inward remittances, which eased the market. Bangladesh  Bank purchased the foreign currency from interbank to maintain stability. Market might see the same tone next week as well.

The  average daily inter-bank USDBDT transaction volume was about USD 43.91 million against USD 110.18 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 hovered between the range of Tk 77.90-78.50, while USD 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 Tk 76.90-77.50 while average T.T selling rate was at 78.1683 on the last working day.

USDBDT  swap  market  in  the outgoing week remained active. The daily average volume of swap transaction was around USD 50.00 million.

LOCAL MONEY MARKET

This  week,  the local call money market rate was around 5.30 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 5.33 per cent and  182  days  was  6.27 per cent.  It  also accepted 10 years government treasury bond (re-issuance) at a cutoff price of BDT 105.7270 (per BDT 100).

    — Commercial Bank of Ceylon PLC