Dhaka, Bangladesh (BBN) - The call money rate fell further on Sunday while the US dollar was stable against the local currency in the inter-bank market, treasury officials said.
The call rate ranged between 0.05 per cent and 3.50 per cent on the day against 0.10 per cent and 3.50 per cent of the previous working day. But most of the deals were made at rates between 0.05 per cent and 0.10 per cent on the day, they added.
"The lower limit of call money rate dropped on the day due mainly to excess liquidity available with the commercial banks," a senior treasury official of a private commercial bank said, adding that the country's call money rates were almost stagnant during the last couple of months.
The overall excess liquidity with the commercial banks stood at BDT 270 billion in April last, representing a 25 per cent growth over that in February last, according to the Bangladesh Bank (BB).
The amount of excess liquidity was BDT 215 billion and BDT 237 billion in February and March 2009 respectively, the BB data showed.
The US dollar remained unchanged against Bangladesh Taka (BDT) following lower demand of the greenback in the inter-bank foreign exchange market.
The banks quoted the per unit dollar rate at BDT 69.06 on the day unchanged from the previous level in the inter-bank foreign exchange market, market operators said.
BBN/SS/SI/AD-03August09-12:56 am (BST)