FE Report

The inter-bank call money rate was steady Tuesday with comfortable liquidity in the market. The US dollar was also stable against Bangladesh taka (BDT) in the inter-bank foreign exchange market with moderate demand for the greenback, fund managers said.

It was the last day of the outgoing fiscal year and the year ended with the market prominently in a calm mood.

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

The rate, however, went above normal trend and fluctuated 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 level against taka and the exchange rate of the greenback stood at Tk 69.06 repeating previous trading day's rate in the inter-bank market.

The greenback was also stable in public deals and the cash dollar was transacted at rates varying between Tk 68.0 and Tk 71.0 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 70.20 and Tk 70.60 against previous day's range of between Tk 70.30 and Tk 70.60. 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 1.3915 and Tk 1.4525.

In the regional market, most currencies were steady. The exchange rate of the dollar against the Indian rupee moved between Rs 48.08 and Rs 49.08 and the Pakistani rupee between Rs 80.90 and Rs 81.40. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.5262 ringgit and 3.5475 ringgit and that against the Thai currency between 33.5830 baht and 34.5830 baht.

In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 95.0930 yen and 96.1740 yen, while the euro moved between 1.3982 dollar and 1.4104 dollar against the greenback.

As on June 30, 2009, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 0.30870 per cent for one month, 0.59680 per cent for three months, 1.11750 per cent for six months, 1.36370 per cent for nine months and 1.59750 per cent for twelve months.