FE Report

The inter-bank call money rate was steady Thursday with sufficient supply of cash in the market. The US dollar also remained stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market because of steady demand for the greenback, fund managers said.

The call rate in extreme range fluctuated mainly between 0.10 per cent and 10.0 per cent maintaining previous trading day's range.

Most deals, however, were transacted at rates varying between 0.10 per cent and 0.50 per cent against previous day's range of 0.10 per cent and 0.25 per cent reflecting almost steady pressure on liquidity, they said.

The rate, however, moved above normal trend and varied between 7.0 per cent and 10.0 per cent in stray deals due to 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 maintained stable note against taka and the exchange rate of the greenback stood at Tk 69.06 maintaining previous trading day's rate in the inter-bank market.

The greenback, however, appeared stronger in public deals and the cash dollar was transacted at rates varying between Tk 68.0 and Tk 71.0 against previous trading day's range of between Tk 68.0 and Tk 70.80.

In the informal market, the dollar also gained and it was traded mainly at rates varying between Tk 70.30 and Tk 70.60 against previous day's range of between Tk 70.10 and Tk 70.30. The informal market experienced higher demand for the foreign currency, money dealers said.

The exchange rate of the Indian rupee against the taka fluctuated between Tk 1.3779 and Tk 1.4355.

In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 48.49 and Rs 49.09 and the Pakistani rupee between Rs 80.70 and Rs 81.42. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.4605 ringgit and 3.5793 ringgit and that against the Thai currency between 33.8620 baht and 34.5793 baht.

In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 95.0130 yen and 96.10 yen, while the euro moved between 1.3887 dollar and 1.4139 dollar against the greenback.