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Dollar stronger, call rate gains ground
FE Report
1/5/2006
 

          The US dollar further gained Wednesday against the Bangladesh taka (BDT) in the local interbank foreign exchange market, as the nationalised commercial banks (NCBs) raised their selling rates. The inter-bank call money rate gained ground in an active market. The dollar was, however, 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 66.27 and Tk 66.31 against the previous day's range between Tk 66.25 and Tk 66.30. The dollar remained firm in public deals and was transacted between Tk 64.30 and Tk 68.32.
In the informal market, the dollar was traded between Tk 66.90 and Tk 67.40 against previous day's range between Tk 66.80 and Tk 67.40. The informal market experienced moderate 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 44.84 and Rs 44.94 and against the Pakistani rupee between Rs 59.75 and Rs 59.80.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.7735 ringgit and 3.7745 ringgit and against the Thai currency between 40.54 baht and 40.57 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 116.06 yen and 116.19 yen and the rate of the euro against the greenback moved between 1.2013 dollar and 1.2094 dollar.
As on January 04, the London Inter-bank Offered Rates (LIBOR) against the US dollar were 4.39750 per cent for one month, 4.54430 per cent for three months and 4.71000 per cent for six months.
The inter-bank call money rate gained ground slightly Wednesday due to higher demand for cash ahead of Eid-ul Azha festival. The call rate moved above the bank rate of 5.00 per cent in an active market.
The central bank conducted reverse repurchase agreement (repo) auction to withdraw Tk 1.00 billion at the interest rate of 5.75 per cent per annum and it put pressure on liquidity.
The call rate mainly ranged between 12.00 per cent and 20.00 per cent against the previous day's range of 11.50 per cent and 20.00 per cent.
Most of the deals were settled at rates between 12.00 per cent and 16.00 per cent, fund managers added.

 

 
 

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