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Thursday, April 07, 2005

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CORPORATE/STOCK
 
Call rate slightly eases, dollar remains firm
FE Report
4/7/2005
 

          Inter-bank call rate slightly eased Wednesday while the US dollar remained unchanged against the local currency in the inter-bank foreign exchange market, sources said.
The call rate registered a declining trend despite withdrawal of fund from the market by the central bank through auction of repurchase agreement (repo) on the day, the sources said.
The call rate ranged between seven per cent and 20 per cent on the day from eight per cent and 20 per cent in the previous day. But most of the deals were settled between 10 per cent and 15 per cent, sources in the market said.
The three nationalised commercial banks (NCBs) - Sonali, Janata and Agrani - were the main players, which mostly quoted the call rates between nine 11 per cent and 12 per cent Wednesday while the private commercial banks (PCBs) and foreign banks lend fund at 7.0-20 per cent.
However, the Bangladesh Bank (BB) siphoned off Tk 950 million at 4.50 per cent using its reverse repo tool from the market Wednesday while injecting fresh fund into the market worth Tk 800 million at 8.00 per cent through special repo auction.
On the other hand, the US dollar remained unchanged at Tk 63.20-Tk 63.70 although there was an improvement in supply of the greenback in the market.
The state-owned banks quoted the rate at Tk 63.20 while the PCBs and foreign commercial banks sold the greenback at Tk 63.70 on the day.
In the informal market, the dollar was traded between Tk 62.80 and Tk 63.20 against the previous day's range between Tk 62.70 and Tk 63.10. The exchange rate of the Indian rupee against the taka ranged between Tk 1.25 and Tk 1.32, money dealers said.
In the regional market, the exchange rate of the dollar against the Indian rupee mainly varied between Rs 43.52 and Rs 43.62 and that against the Pakistani rupee between Rs 59.38 and Rs 59.43.
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 38.55 baht and 38.57 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 108.31 yen and 108.73 yen and the rate of the euro against the greenback moved between 1.2817 dollar and 1.2847 dollar.
As on April 06, 2005, the London Interbank Offered Rates (LIBOR) against the US dollar were 2.89000 per cent for one month, 3.12250 per cent for three months and 3.38000 per cent for six months.

 

 
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