Dhaka, Bangladesh (BBN)-The inter-bank call money rate dropped significantly on Tuesday as the central bank injected fund continuously through buying the US dollar from the banks to keep the country’s foreign exchange market stable.
The weighted average rate (WAR) on call money came down to 2.54 per cent on the day from 4.27 per cent on September 01, according to the Bangladesh Bank (BB)’s latest data.
On the other hand, the call money rate ranged also fell to 0.30-5.25 per cent on Tuesday from 3.25-5.25 per cent on September 01.
But most of the deals were settled at rates varying between 1.00 per cent and 1.50 per cent, market operators said.
The transaction in the inter-bank call money market came down to BDT 74.43 billion on the day from BDT 86.77 billion on September 01.
Meanwhile, the deposit growth in the banking sector maintained an upward trend in the recent months mainly due to lower sales of the national savings certificates and higher inflow of remittances.
The existing trend in call money rate may continue in the coming days, they added.