Stable tone maintained

USD/BDT  maintained  stable  tone  last  week. Bangladesh received USD 1.39 billion as  in-ward remittances in July, 2015. The foreign exchange reserve of  the  country  stood at USD 25.46 billion on the last day of July, 2015.We feel that market will feel the same tone next week as well.

The  average daily inter-bank USDBDT transaction volume was about USD 57.34

million against USD 74.74 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 Tk 77.90-78.50, while USD buying rates from exporters were at Tk 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 hovered between the range of Tk 76.90-77.50 while average T.T selling rate was at Tk 78.1663 on the last working day.

USDBDT  swap  market  in  this week remained active with the daily average volume of swap transaction worth USD 65.00 million.

LOCAL MONEY MARKET

This  week,  the local call money market rate was around 5.30 per cent. The Bangladesh Bank supported commercial banks through reverse repo window. Bangladesh Bank accepted 91 days and 182 days T/Bill. The cutoff yield of 91 days was 5.55 per cent and  182  days  was 6.15 per cent. It also accepted two years Govt. Treasury bond at yield of 7.20 per cent.

-Commercial Bank of Ceylon-