Dhaka, Bangladesh (BBN) – The volume of overall transactions in the money market crossed BDT 75 billion on Monday while the rate was almost unchanged.
The volume of transactions in the inter-bank call money market rose to BDT 75.11billion on the day from BDT 73. 61 billion of the previous working day, according to the Bangladesh Bank (BB) statistics, released on Tuesday.
The weighted average rate on call money remained came down to 3.61 per cent on the day from 3.62 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 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 Tuesday.
The US dollar was quoted at BDT 80.69-BDT80.70 unchanged from the previous working till the report was filed at 11:14 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, 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 81.5025 for bill for collection (BC) on Monday from BDT 81.5223 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).