Greenback/BDT maintains soft tone

USD/BDT maintained soft tone last week as well. Bangladesh Bank also purchased foreign currency from the interbank to mop up excess liquidity.

The market is expected to see the same tone next week as well.

The  average daily inter-bank USD/BDT transaction volume was about $ 42.37 million against $ 55.84 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.

USDBDT  Swap  market  in  this week was very much active. The daily average volume of swap transaction was around USD 62.00 million.

This  week,  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 7.50 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 364  days  T/Bill.  The  cutoff yield of 91 days was 7.26 per cent and 364 days was 8.03 per cent. It also accepted 5 Years Govt. Treasury bond at yield of 9.45 per cent.                                                                                  

    — Commercial Bank of Ceylon PLC