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Friday, August 04, 2006

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HEADLINE
 
Call rate steady, dollar weakens
FE Report
8/4/2006
 

          The inter-bank call money rate was steady with upward bias Thursday despite higher demand for cash. Most of the transactions were made at rates between 6.50 per cent and 7.00 per cent against the previous day's range between 6.25 per cent and 6.50 per cent, fund managers said.
The call rate, however, moved above the bank rate of 5.00 per cent, indicating more than expected pressure on liquidity.
The rate moved between 6.25 per cent and 11.00 per cent against the previous day's range between 6.25 per cent and 10.50 per cent.
The rate was at its high at 11.00 per cent against the previous day's peak at 10.50 per cent. Some stray deals were held at rates above the main trend, fund managers said.
Meanwhile, the US dollar slightly weakened against the Bangladesh taka (BDT) Thursday in local inter-bank foreign exchange market due to moderate demand for the greenback. The greenback, however, remained steady in public deals and also in informal transactions, fund managers said.
In the formal inter-bank market, the exchange rate of the dollar against the BDT ranged between Tk 69.49 and Tk 69.80 against the previous day's range between Tk 69.49 and Tk 69.82. The cash dollar in public deals was steady and it was transacted at rates between Tk 67.65 and Tk 70.85.
In the informal market, the dollar was traded between Tk 70.70 and Tk 71.10 against previous day's range between Tk 70.60 and Tk 71.10. The demand for the greenback in the informal market was higher, money dealers said.
The exchange rate of the Indian rupee against the taka ranged between Tk 1.49 and Tk 1.61.
In the regional market, the exchange rates of the dollar against the Indian rupee varied between Rs 46.54 and Rs 46.58 and the Pakistani rupee between Rs 60.28 and Rs 60.30.
Besides, the exchange rate of the dollar against the Malaysian ringgit varied between 3.6790 ringgit and 3.6810 ringgit, and against the Thai currency between 37.88 baht and 37.92 baht.
In the international market, the exchange rate of the dollar against the Japanese yen mainly varied between 114.60 yen and 115.20 yen. The euro's rate against the greenback moved between 1.2805 dollar and 1.2807 dollar.

 

 
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