Currency maintains soft tone against greenback

The  local currency maintained soft tone against the greenback last week as the   market   received  good  amount  of  inward  remittances. Bangladesh received $ 1.17 bio as inward remittances in Feb, 2015. The market is expected to see the same move next week as well.

The  average daily inter-bank USD/BDT transaction volume was about $ 43.76 million against $ 21.86 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 78.00-78.50, while USD Buying rates from exporters  were  at  77.00-77.50. For non- commercial payments such as Tele Graphic  Transfer as donations, wage earners remittance, dollar drafts etc, the  average  T.T buying rate was in the range of 77.00-77.50 while average T.T selling rate was at 78.2735 on the last working day.

USD/BDT swap  market  in  this week was very much active. The daily average volume of swap transaction was around USD 65.00 million.

The  local  call money rate experienced down-ward trend due to some  eased  demand and market traded between a range of 7.00 per cent and 7.75 per cent on the  last  day  of  the  week.  The Central Bank supported commercial banks through  Reverse Repo and ALS windows. Bangladesh Bank accepted 91-days and 182  days  T-Bill.  The  cut-off yield of 91 days was 7.26 per cent and 182 days was 7.65 per cent. It also accepted 02 Years Govt. Treasury bond at yield of 8.50 per cent.

    — Commercial Bank of Ceylon PLC