Dhaka, Bangladesh (BBN) – Bangladesh’s call money rates witnessed an upward mode as the banks take preparation to face the cash withdrawal pressure before the Eid-ul-Azha.

The weighted average rate on call money remained rose to 3.59 per cent on Thursday from the day from 3.58 per cent of the previous working day while the inter-bank call money rate remained stable in the range between 1.75 per cent and 4.50 per cent.

However, most of the deals were settled between 3.25 per cent and 4.00 per cent, according to the market operators.
The volume of overall transactions in the money market came down to BDT 76.73 billion on the day from BDT 79.36 of the previous level, according to the Bangladesh Bank (BB) statistics, released on Sunday.

“The existing 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 Sunday.

The US dollar was quoted at BDT 80.70 unchanged from the previous working till the report was filed at 11:21 am (local time).

The local currency may depreciate slightly against the greenback in the inter-bank forex market mainly due to higher demand for the US currency following making import payment obligations, they hinted.

However, the local currency has returned into depreciating mode again from appreciating one on Thursday against the US dollar at customer level for clearing import payment obligations.

The average exchange rate of US dollar rose to BDT 81.4923 for bill for collection (BC) on the day from BDT 81.4866 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).