BB continues forex buying

(June 28-July 2, 2015)

USD/BDT maintained stable tone last week as well. Bangladesh Bank continued  buying foreign currency from the market. The foreign exchange reserve of the country stood at USD 25.01 billion on the last day of June, 2015.

The average daily inter-bank USDBDT transaction volume was about USD 47.72 million against USD 51.72 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 USD buying rates from exporters  were  at  76.90-77.50. For non- commercial payments such as tele graphic  transfer as donations, wage earners remittance, dollar drafts etc, the  average  T.T buying rate hovered in the range of 76.90-77.50 while average T.T selling rate was at 78.1731 on the last working day.

USDBDT  swap  market  in  this week was active. The daily average volume of swap transaction was around USD 55.00 million.

LOCAL MONEY MARKET

This week, the local call money market rate stood around 5.25 per cent. The Bangladesh Bank supported commercial banks through reverse repo window. Bangladesh Bank accepted 91 days and 364 days T/Bill. The cutoff yield of 91 days was 5.39 per cent and 364 days was 6.70 per cent.

    — Commercial Bank of Ceylon PLC