Call money rate was steady throughout the week that ended Thursday The rate ranged between 5.00-6.00 per cent throughout the week before easing slightly by the end of the week due to improved liquidity condition. The Bangladesh Bank (BB) borrowed BDT 9,782.50 million through the Treasury bill (T-bill) auction, compared with BDT 2,215.50 million in the previous week's bid. Weighted average yields remained almost unchanged except the 28-day T-bill, which raised from 4.00 per cent to 4.08 per cent. The US dollar (USD) got slightly stronger against Bangladesh taka (BDT) in the week that ended Thursday. Dollar remained steady in the beginning of the week. It got slightly stronger against the taka due to increased demand by the end of the week. In the beginning of the week, the dollar fell to a five-week low against the Euro. The Euro has rebounded more than 3.0 per cent from a three-month low hit earlier in the month. The dollar fell by one yen from the session's high. The dollar bounced back against the Euro, sterling and the Yen in the middle of the week after South Korea declared long-term plans to diversify its foreign exchange reserves.
Commercial Bank Of Ceylon
The interbank call money market became lower in the week that ended Thursday than the previous week. Call rate hovered within the range of 4 to 7 per cent during the week against 5 to 15.00 per cent the week before. The BB has drained out Tk 9.78 billion from the money market by accepting more T-bills than maturity during the week. In foreign exchange market, The USD gained ground against BDT. The week started with a high rate of Tk 63.80/Tk 63.85. and went up to Tk63.90/Tk63.95 at the end of the week. Public banks were the key sellers and foreign and private sector banks were mostly buyers. The market started with a high demand and rate gradually scaled up at the end of the week. The BB has recently introduced new guideline to develop forex forward market, under which bank will be able to cover their forward sales with at-least 50 per cent of forward purchase from customers and remaining portion through interbank forward purchases and outstanding export proceeds which are already negotiated. This new guideline is expected to help boost forward market and partially decrease the pressure from spot market. This week, daily average interbank SPOT Dollar/Taka transaction volume (approx.) was $8.934 million against (approx) $11.22 million in the week before, which is 26.52 per cent higher comparing to that of last week. Banks adjusted their forex selling and buying rates during week as the market rates increased. USD selling rates for importers of major foreign and private banks ended higher at Tk63.90/Tk63.95 against Tk 63.80/Tk 63.85 the week earlier. USD buying rates from exporters also ended higher at Tk 62.20/Tk 62.25. against Tk 62.15/Tk 62.20 the week before.
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