The US dollar further gained against the Bangladesh taka (BDT) Thursday in the local inter-bank foreign exchange market, as the demand for the greenback remained higher. The inter-bank call money rate, however, eased in an active market. The dollar was steady in the informal market, fund managers said.
In the formal inter-bank market, the exchange rate of the greenback against the taka ranged between Tk 67.30 and Tk 67.35 against the previous day's range between Tk 67.25 and Tk 67.30. The cash dollar was remarkably firmer in public deals and was transacted at rates between Tk 67.25 and Tk 70.45.
In the informal market, the dollar was traded between Tk 67.20 and Tk 67.40 against the previous day's range of Tk 67.10 and Tk 67.40. The informal market experienced higher demand for the dollar, money dealers said.
The exchange rate of the Indian rupee against the taka ranged between Tk 1.48 and Tk 1.53.
In the regional market, the exchange rate of the dollar against the Indian rupee varied between Rs 44.08 and Rs 44.16 and against the Pakistani rupee between Rs 59.87 and Rs 59.97.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.7211 ringgit and 3.7221 ringgit, and against the Thai currency between 39.37 baht and 39.40 baht.
As on February 16, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 4.5700 per cent for one month, 4.7500 per cent for three months and 4.9300 per cent for six months.
The inter-bank call money rate eased slightly Thursday in an active market. The market experienced some pressure on liquidity due to withdrawal of cash through auctions of treasury bills and reverse repurchase agreement (repo). The rate was at its high at 24.00 against the previous day's rate at 25.00 per cent. The call rate evidently moved above the bank rate of 5.00 per cent.
The central bank conducted reverse repurchase agreement (repo) auction Thursday to withdraw Tk 1.21 billion at interest rates ranging between 5.60 per cent and 6.70 per cent per annum.
The call rate mainly varied between 8.00 per cent and 24.00 per cent against previous rates, which ranged between 8.50 per cent and 25.00 per cent.
Most of the deals were settled at rates between 10.00 per cent and 14.00 per cent, fund managers added.