The currency shows stable tone

(June 5-June 11, 2015)

The local currency maintained stable tone last week as well. The country continued its foreign currency receiving as inward remittances. Bangladesh Bank purchased the fresh  USD from interbank to stabilise the market. The market might see the same tone next week as well.

The  average daily inter-bank USDBDT transaction volume was about USD 35.67 million against USD 44.84 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 hovered between the range of Tk 76.90-77.50 while average T.T selling rate was at Tk 78.1765 on the last working day.

USDBDT swap  market  in  this week remained active. The daily average volume of swap transaction was around USD 55.00 million.

Local money market

This week, the local call money market rate stood around 5.25 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 5.36 per cent and that of 182 days was 6.45 per cent.

    — Commercial Bank of Ceylon PLC