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Tuesday, February 21, 2006

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HEADLINE
 
Dollar rises further against taka
FE Report
2/21/2006
 

          The US dollar gained further against Bangladesh Taka (BDT) and reached at Tk 70.75 Monday for opening letters of credit (LCs) against imports.
It rose by Tk 0.25 per unit from Sunday's high at Tk 70.50 due to short supply of the greenback in the market, the sources in the banking sector said.
However, the banks quoted the dollar rate at Tk 67.40-67.50 on the day against Tk 67.40 of the previous day in the inter-bank foreign exchange market.
For opening LCs against imports, the NCBs quoted the dollar at Tk 68.97, while the foreign commercial banks (FCBs) and private commercial banks (PCBs) sold the greenback at Tk 70.75-69.90 on the day.
Currently, some commercial banks have been facing problems in making their import payments against LCs in recent days due to short supply of the greenback in the inter-bank market.
On the other hand, the call rate dropped to 21 per cent Monday from 24 per cent of the previous day, while most of the deals were settled between 10 per cent and 11 per cent.
The two NCBs -- Janata and Agrani -- mostly quoted the call rates between 11 per cent and 12 per cent Monday. However, the PCBs and FCBs lent funds at 9.50-21.00 per cent on the day against 9.50-24.00 per cent of the previous day.

 

 
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