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Call rate falls further
FE Report
2/13/2005
The inter-bank call money rate fell further to 26 per cent Saturday while the US dollar eased against the local currency, sources said.
The call rates dropped from the previous day's peak at 40 per cent as the Bangladesh Bank (BB) injected fresh fund into the market through repurchase agreement (repo), sources in the banking sector said.
The BB held a special repo auction on the day accepting 15 bids amounting to Tk 3.55 billion at 8.0 per cent against 16 bids by banks seeking Tk 6.03 billion to meet their internal demand, sources in the BB said.
The call rate ranged between four per cent and 26 per cent Saturday against 7-40 per cent in the previous day. However, most of the deals were settled in the range between 13 per cent and 25 per cent, sources noted.
Three nationalised commercial banks (NCBs) quoted the call rates between 13 per cent and 15 per cent while the private commercial banks (PCBs) and foreign banks made deals in the range between 4.0 per cent and 26 per cent on the day.
However, the US dollar eased further against the local currency Saturday due to improvement in the supply of the greenback in the inter-bank foreign exchange market.
Dollar was quoted at Tk 63.16 in the inter-bank market on the day against Tk 63.15 in the previous day, sources said, adding most of deals were settled between Tk 63.00 and Tk 63.10.
The central bank did not intervene in the market through selling the greenback on the day, sources added.
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