Forex rates unchanged

USD/BDT maintained stable tone last week as well. Bangladesh received USD 1.29  billion as inward remittances in April, 2015.

 We feel that market will see the same tone next week as well.

The  average daily inter-bank USD-BDT transaction volume was about USD 39.77 million against USD 37.78 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 was in the range of 76.90-77.50 while average T.T Selling rate was at 78.1784 on the last working day.

USDBDT swap  market  in  this week remained brisk. The daily average volume of swap transaction was around USD 72.00 million.

Local money market

This  week, the local call money market was traded between a range of 5.25 per cent and 5.75 per cent. The Bangladesh Bank supported commercial banks through Reverse Repo and ALS windows. Bangladesh Bank accepted 91 days and 182 days T/Bill. The cutoff yield of 91 days was 6.99 per cent and 182 days was 7.33 per cent.

    — Commercial Bank of Ceylon PLC