Dhaka, Bangladesh (BBN) – Bangladesh Taka (BDT) appreciated slightly against the US dollar in the last week mainly due to higher flow of inward remittance ahead of the Eid-ul-Fitr festival.
The US dollar was quoted at BDT 77.58-BDT 77.60 in the inter-bank forex market on Thursday against BDT 77.60 in the previous working day. It was Tk 77.63 on July 8 last.
The average daily inter-bank USD/BDT transaction volume was about $ 44.32 million against around $ 39.27 million of the week before.
Most of the banks kept their published foreign exchange rates unchanged last week. The USD/BDT selling rates for importers of major foreign and private banks was at 77.80-78.30, while USD buying rates from exporters were at 76.80-77.30.
For noncommercial payments such as Tele Graphic Transfer as donations, wage earners remittance, and dollar drafts, the average T.T Buying rate was in the range of 76.80-77.30 while average T.T Selling rate was at 78.0196 on the last working day.
USD/BDT Swap market last week was very much active. The daily average volume of swap transaction was around $ 45.00 million.
The call money traded around 6.00 per cent. The central bank supported commercial banks through repo and reverse repo windows.
Besides, the Bangladesh Bank (BB) accepted 91-day T-Bill and 182-day T-Bill. The cutoff yield of 91-day was 6.84 per cent and 182-day was 7.55 per cent. It also accepted 10-Year Govt. Treasury bond at yield of 11.59 per cent.
Bangladesh received $584.95 million as remittance between July 1 and July 11 from Bangladeshi nationals working abroad, according to the central bank statistic.
“We expect that the flow of inward remittance may touch nearly $1.40 billion by the end of this month,” a BB senior official told BBN in Dhaka.
The remittances from Bangladeshi nationals working abroad were estimated at $1.29 billion in June 2014, up by $70.54 million from the level of the previous month. In May last the remittances stood at $1.21 billion, the BB data showed.
BBN/SSR/AD-19JUly14-12:03 pm (BST)
