FE Report

The inter-bank call money rate was steady Monday because of ample supply of liquidity in the market. The US dollar, however, gained against Bangladesh taka (BDT) in an active inter-bank foreign exchange market, fund managers said.

The call rate in extreme range fluctuated mainly between 0.15 per cent and 10.0 per cent maintaining previous trading day's range.

Most deals, however, were transacted at rates varying between 0.25 per cent and 0.75 per cent against previous day's range of 0.25 per cent and 0.50 per cent reflecting slightly pressure on liquidity, they said.

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

The dollar gained against taka and the exchange rate of the greenback stood at Tk 69.06 against previous trading day's rate of Tk 69.05 in the inter-bank market.

The greenback, however, remained steady in public deals and the cash dollar was transacted at rates varying between Tk 68.0 and Tk 70.30 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 70.10 and Tk 70.30 against previous day's range of between Tk 70.0 and Tk 70.30. 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 1.3723 and Tk 1.4539.

In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 48.0250 and Rs 49.0250 and the Pakistani rupee between Rs 80.75 and Rs 81.35. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.5425 ringgit and 3.5545 ringgit and that against the Thai currency between 33.6070 baht and 34.6250 baht.

In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 96.2177 yen and 96.4320 yen, while the euro moved between 1.3930 dollar and 1.3966 dollar against the greenback.

As on June 22, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.31680 per cent for one month, 0.61180 per cent for three months, 1.18250 per cent for six months, 1.47250 per cent for nine months and 1.740 per cent for twelve months.