FE Report

The inter-bank call money rate remained unchanged Wednesday despite withdrawal of cash through bonds from the liquid market. The US dollar, however, posted slight gain against Bangladesh taka (BDT) in the inter-bank foreign exchange market with increased pressure on demand for the greenback, fund managers said.

The call rate in extreme range moved mainly between 0.25 per cent and 10.0 per cent maintaining previous trading day's range.

Most deals were, however, made at rates varying between 0.50 per cent and 1.0 per cent against previous day's range of 0.25 per cent and 0.50 per cent reflecting higher pressure on liquidity, they said.

The call rate, however, moved mainly between 7.0 per cent and 10.0 per cent rising above main trend in stray deals with borrowing of cash by some financial institutions at high rates from inter-bank market to meet urgent needs of their clients, fund managers said.

The central bank withdrew Tk 4.0 billion against Five-year Bangladesh Government Treasury bonds at an annual interest rate of 10.15 per cent.

It, however, refrained from withdrawing Tk 10.266 billion against reverse repurchase agreement.

The dollar gained against taka and the exchange rate of the dollar stood at Tk 69.01 against previous trading day's rate of Tk 69.0.

The greenback, however, was steady in public deals and the cash dollar was transacted at rates varying between Tk 67.85 and Tk 69.64 maintaining previous trading day's range.

In the informal market, the dollar was mostly steady and it was traded mainly at rates varying between Tk 69.20 and Tk 69.60 against previous day's range of between Tk 69.10 and Tk 69.60. The informal market experienced steady demand for the foreign currency, money dealers said.

The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3351 and Tk 1.3986.

In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 49.61 and Rs 50.8950 and the Pakistani rupee between Rs 80.10 and Rs 80.80. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6166 ringgit and 3.6385 ringgit and that against the Thai currency between 34.94 baht and 35.98 baht.