Dhaka, Bangladesh (BBN)– The volume of overall transactions in the money market reached at nearly BDT 79 billion on Tuesday while the rate was almost unchanged.
The volume of transactions in the inter-bank call money market rose to BDT 78.94 billion on the day from BDT 75.11 billion of the previous working day, according to the Bangladesh Bank (BB) statistics, released on Wednesday.
The weighted average rate on call money remained rose to 3.62 per cent on the day from 3.61 per cent of the previous level.
However, the inter-bank call money rate remained stable in the range between 1.50 per cent and 4.50 per cent from the previous working day. But the most of the deals were settled between 3.25 per cent and 4.00 per cent.
“The ongoing trend in the call money market may continue in the coming days,” a senior treasury official of a leading private commercial bank told BBN in Dhaka without elaborating.
On the other hand, the exchange rate of Bangladesh Taka (BDT) remained unchanged against the US dollar in the inter-bank foreign exchange market in early hour transactions on Wednesday.
The US dollar was quoted at BDT 80.70 unchanged from the previous working till the report was filed at 12:45 pm (local time).
The local currency may depreciate slightly against the greenback in the inter-bank forex market in the coming days mainly due to higher demand for the US currency following making import payment obligations, according to treasury officials.
However, the local currency has maintained appreciating mode against the US dollar continuously at customer level for clearing import payment obligations.
The average exchange rate of US dollar came down to BDT 81.4874for bill for collection (BC) on Tuesday from BDT 81.5025 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
The banks also quoted at BDT 80.30-BDT 80.70 to the remitters for telegraphic transfer (TT) of their funds while the US dollar quoted at BDT 80.0- BDT 80.6 for purchasing export proceeds, according to the BBN early hour monitoring report.