The US dollar was steady Wednesday against the Bangladesh taka (BDT) in the local inter-bank foreign exchange market. The inter-bank call money rate also remained unchanged in an active market. The dollar, however, appeared weaker in the informal market, fund managers said.
In the formal inter-bank market, the exchange rate of the greenback against the taka varied between Tk 66.20 and Tk 66.25 maintaining previous day's range. The dollar was firm in public deals and was transacted between Tk 64.45 and Tk 68.22.
In the informal market, the dollar was traded between Tk 66.80 and Tk 67.30 against previous day's range between Tk 66.90 and Tk 67.50. The informal market experienced increased demand for the dollar, money dealers said.
As on December 28, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 4.38000 per cent for one month, 4.52060 per cent for three months and 4.70000 per cent for six months.
The inter-bank call money rate was steady Wednesday despite withdrawal of cash through reverse repurchase agreement (repo) auction. The lower edge of the rate moved above the bank rate of 5.00 per cent in an active market.
The central bank conducted reverse repo auction to withdraw Tk 3.11 billion Wednesday at annual interest rates varying between 5.50 per cent and 5.75 per cent.
The call rate mainly ranged between 7.00 per cent and 14.75 per cent maintaining the previous day's range.