MARKET ANALYSIS: The foreign exchange market was active Thursday with higher demand for the US dollar. The greenback, however, dropped slightly against the Bangladesh taka in the local interbank market. It, however, remained steady in the local informal market, fund dealers said. In the informal market, the dollar was traded between Tk 59.80 and Tk 60.30 against previous week's range between Tk 59.80 and Tk 60.20. The exchange rate of the Indian rupee against the taka ranged between Tk 1.25 and Tk 1.32, money dealers said. In the formal interbank market, the exchange rate of the greenback against the taka varied between Tk 63.00 and Tk 63.15 against the previous day's range between Tk 63.00 and Tk 63.30. The was, however, steady in public deals and it was transacted at rates between Tk 59.70 and Tk 62.25. In the regional market, the exchange rate of the dollar against the Indian rupee mainly varied between Rs 43.61 and Rs 43.76 and that against the Pakistani rupee between Rs 59.31 and Rs 59.39. Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.7995 ringgit and 3.8005 ringgit and against Thai baht between 38.51 baht and 38.54 baht. In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 105.61 yen and 105.83 yen and the rate of the euro against the greenback moved between 1.2792 dollar and 1.2803 dollar. As on February 10, 2005, the London Interbank Offered Rates (LIBOR) against the US dollar were 2.59000 per cent for one month, 2.77408 per cent for three months and 3.00000 per cent for six months.
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