Dhaka, Bangladesh (BBN)– Decreasing trend in the call money market continues after the Eid vacation while the exchange rate of Bangladesh Taka (BDT) remains stable against the US dollar.
The volume of transactions in the inter-bank call money market came down to BDT 74.83 billion on Sunday from BDT 77.09 billion of the previous working day, according to the central bank statistics, released on Monday.
The call money rate ranged between 3.50 per cent and 4.50 per cent on the day against 2.00-4.50 per cent of the previous working day. But most of the deals were settled at rates varying between 4.00 per cent and 4.50 per cent, the market operators said.
On the other hand, the weighted average of call money rate remained unchanged at 4.06 per cent on Sunday from the previous level, the Bangladesh Bank (BB) data showed.
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 Monday.
The US dollar was quoted at BDT 80.58-BDT 80.60 almost unchanged from the previous level in the inter-bank foreign exchange market till the report was filed at 12:01 pm (local time).
81.4462 However, the average exchange rate of US dollar came down to BDT 81.4462 for bill for collection (BC) on Sunday from BDT 81.4558 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
Meanwhile, the banks quoted at BDT 79.7-BDT 80.2 to the remitters for telegraphic transfer (TT) of their funds while the US dollar quoted at BDT79.41- BDT 80.08 for purchasing export proceeds, according to the BBN early hour monitoring report.