weekly foreign exchange market review

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Sept 15-Sept 19,2013 Commercial Bank of Ceylon PLC USD/BDT maintained stable tone last week as well and traded around 77.75 levels. Huge inflows set off the payment for imports. We feel the market will see the same tone next week as well. The average daily inter-bank USD-BDT transaction volume was about USD 23.20 million against around USD 45.40 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 77.85-78.40, while USD buying rates from exporters were at 76.85-77.40. 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 76.85-77.40 while average T.T Selling rate was at 78.1276 on the last working day. USD-BDT swap market in this week was very much active. The daily average volume of swap transaction was around USD 60.00 million. This week, the local call money market traded around 7.25 per cent. The Bangladesh Bank supported commercial banks through assured liquidity support window. Bangladesh Bank accepted 91 days T/Bill of BDT 7.00 billion and 182 days T/Bill of BDT 6.00 billion. The cut-off yield of 91-days T-Bill was 8.49 per cent-8.58 per cent and 182 days T/Bill was 10.13 per cent-10.20 per cent. It also accepted 10 years government treasury bond worth of BDT 3.00 billion at yield of 12.22 per cent.