Bangladesh’s banks’ excess liquidity decreases slightly

Dhaka, Bangladesh (BBN) – Upward trend in the call money rates may continue today (Thursday) ahead of the Eid-ul-Azha festival, market operators said.
“The overall market trend may remain same on Thursday, the last working day before the Eid vacation,” a senior treasury official of a leading private commercial bank told BBN in Dhaka while forecasting today’s market trend.
The call rate ranged between 4.0 per cent and 4.50 per cent on Wednesday against the previous range between 2.00 per cent and 4.50 per cent.
However, most of the deals were settled at rates varying between 4.0 per cent and 4.25 per cent, they added.
The weighted average rate (WAR) on call money rose to 4.06 per cent on Wednesday from 4.04 per cent of the previous level.
However, the volume of overall transactions in the market came down to BDT 84.74 billion on the day from BDT 89.96 billion of the previous day, according to the central bank’s latest statistics, released on Thursday.
However, 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 Sunday.
The US dollar was quoted at BDT 80.70 unchanged from the previous working till the report was filed at 11:34 am (local time).
However, the local currency appreciated slightly again the US dollar at customer level for clearing import payment obligations.
The average exchange rate of US dollar came down to BDT 81.6560 for bill for collection (BC) on Wednesday from BDT 81.6598 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).

BBN/SSR/AD