Local currency remains stable

Jan 12 - Jan 16, 2014

Standard Chartered Bank

The local interbank call money rate was around 6 - 7 per cent during the entire week, with stable liquidity.

The USD/BDT rate was stable throughout the week. There was ample liquidity in the market with low demand.

Dhaka Stock Exchange (DSE) saw a upward tick throughout the week except on Monday. On Sunday, Wednesday and Thursday it gained 29.99 points or 0.68 per cent, 39.19 points or 0.88 per cent and 25.33 points or 0.56 per cent but on Monday, it lost 17.02 points or 0.38 per cent at the closure of the trading hours. On the consecutive days throughout the week except Tuesday, among the issues traded 5, 69, 590 and 88, 103, 75, 96 were declined; 164, 159, 197 and 178 were advanced and 36, 29, 67 and 19 remained unchanged.

Commercial Bank of Ceylon PLC

The local currency was stable against the green back last week. The market will see the same tone next week as well.

The average daily inter-bank USD-BDT transaction volume was about $ 46.98 million against around $ 24.10 million of the week before.

Most of the banks kept their published foreign exchange rates unchanged this  week. The USD/BDT selling rates for importers of major Foreign and Private Banks was at 77.90-78.40, while USD Buying rates from exporters were at  76.90-77.40. 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 76.90-77.40 while average T.T Selling rate was at 78.1554 on the last working day.

USD-BDT Swap market in last week was very much active. The daily average volume of swap transaction was around $ 50.00 million.

The local call money market traded around 7 per cent. The Central Bank supported commercial banks through assured liquidity support and Reverse Repo windows. Bangladesh Bank accepted 91 days T/Bill of Tk 9 billion and 364 days T/Bill of Tk 8 billion. The cutoff yield of 91-Days T-Bill was 7.15 -7.40 per cent and 364 days T/Bill was 8.33 -8.88 per cent. It also accepted 5 Years Govt. Treasury bond worth of Tk 5.50 billion at yield of 11.23 per cent.