Mkt sees some more import payments

USD/BDT  showed  little volatility last week as the market experienced some more import payments. The country has received so far USD 931 million as inward remittances in first 20 days of this month. We feel that market will see same tone next week as well.

The  average daily inter-bank USDBDT transaction volume was about USD 37.94 million against USD 30.32 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 TeleGraphic 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 78.1990 on the last working day.

USDBDT  swap  market  in  this week remained brisk. The daily average volume of swap transaction was around USD 75.00 million.

Local money market

This  week, the local call money rate experienced up-ward trend due to some eased  demand  and  market  traded  between a range of 7.00 per cent and 7.50 per cent. The Bangladesh 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 7.50 per cent and 364 days was 8.46 per cent.

     — Commercial Bank of Ceylon PLC