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Call rate remains steady, dollar moves further
FE Report
9/12/2005
 

          Call money rate remained unchanged Sunday while the US dollar slightly moved further against the local currency in the inter-bank foreign exchange market, sources said.
The call rate maintained a steady trend on the day despite withdrawal of fund from the market by the central bank using its reverse repurchase agreement (repo) tool. The central bank withdrew fund from the market amounting to Tk 4.40 billion at 5.00-5.50 per cent Sunday through the reverse repo auction to keep the market stable.
The call rate ranged between five per cent and 12 per cent on the day, unchanged from the previous level, while most of the deals were settled between five per cent and six per cent, sources in the market said.
The government borrowed Tk 11.172 billion from the banking system through the auction of treasury bills Sunday. But a total of Tk 10.428 billion will be injected into the market due to maturity of some treasury bills. It will result in a net outflow of Tk 744 million from the market this week.
On the other hand, the US dollar slightly moved against the local currency on the day due to short supply of the greenback in the market.
The banks quoted the dollar at Tk 65.45-65.75 on the day against Tk 65.40-65.75 of the previous day. But most of the deals were settled at Tk 65.45-65.65 on the day.
The NCBs quoted the dollar at Tk 65.45-65.60 on the day while the PCBs and foreign banks settled their deals at Tk 65.75.

 

 
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