Dhaka, Bangladesh (BBN)– The volume of overall transactions in the call money market decreased on Wednesday after the Eid vacation.
The volume of transactions in the inter-bank call money market came down to BDT 79.66 billion on the day from BDT 84.81 billion of the previous working day, according to the central bank statistics, released on Thursday.
The call money rate ranged between 2.00 per cent and 4.50 per cent on the day against 2.25-4.50 per cent of the previous level. But most of the deals were settled at rates varying between 3.25 per cent and 4.50 per cent, the market operators said.
However, the existing trend of inter-bank call rates continued while the exchange rate of local currency against the US dollar remained stable in early hour transactions on Thursday.
The weighted average of call money rate also came down to 4.03 per cent on Wednesday from 4.04 per cent of the previous level, the Bangladesh Bank (BB) data showed.
On the other hand, the US dollar was quoted at BDT 80.56-BDT 80.60 unchanged from the previous level in the inter-bank foreign exchange market till the report was filed at 12:14 pm (local time).
However, the average exchange rate of US dollar rose to BDT 81.4530 for bill for collection (BC) on Wednesday from BDT 81.4168 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
Meanwhile, the banks offered the US dollar rates between BDT 81.20 and BDT 81.75 on Thursday to their customers for clearing import payment obligations.
The banks quoted at BDT 79.50-BDT 80.20 to the remitters for telegraphic transfer (TT) of their funds while the US dollar quoted at BDT79.48- BDT 80.08 for purchasing export proceeds, according to the BBN early hour monitoring report.