Taka appreciates further

The local currency appreciated further last week against the greenback and was traded around 77.80 levels on the last day of the week.

Bangladesh Bank started purchasing foreign currency from interbank to mop up the excess liquidity. Market might see the same tone next week.

The average daily inter-bank USD/BDT transaction volume was about $35.11 million against $33.36 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 78.20-78.90, while USD buying rates from exporters were at 77.20-77.90. 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 77.20-77.90 while average T.T selling rate was at 78.5054 on the last working day.

USD/BDT swap market last week was very much active. The daily average volume of swap transaction was around $60.00 million.

The local call money rate experienced down-ward trend due to some eased demand and market traded between a range of 7.25 per cent and 8.25 per cent on the last day of the week.

Bangladesh Bank supported commercial banks through Reverse Repo and ALS windows. Bangladesh Bank accepted 91-day and 182-day T-Bill. The cutoff yield of 91-day was 7.69 per cent and 182-day was 7.92 per cent. Bangladesh Bank also accepted 10-Year Govt. Treasury bond at yield of 10.92 per cent.

    — Commercial Bank of Ceylon PLC