Local currency appreciates more against dollar

The local currency appreciated further more against the green back during the week of July 27 to July 31 last and was traded around 77.50 levels. With the event of huge inward remittances ahead of Eid-ul-Fitr, the market was eased off.

The market will see the same tone next week as well.

The average daily inter-bank USD/BDT transaction volume was about $ 15.00 million against around $ 78.02 million of the week before.

Most of the banks kept their published foreign exchange rates unchanged last week. The USD/BDT selling rates for importers of major Foreign and Private Banks was at 77.80-78.30, while USD Buying rates from exporters were at 76.80-77.30. 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 76.80-77.30 while average T.T Selling rate was at 77.9839 on the last working day.

USD/BDT Swap market last week was very much active. The daily average volume of swap transaction was around $ 30.00 million.

The local call money market traded around 7.25 per cent. The Central Bank supported commercial banks through Repo, Reverse Repo and ALS windows.

    — Commercial Bank of Ceylon PLC