Dhaka, Bangladesh (BBN) – The demand for call money has started an upward mode 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 rose to BDT 76.91 billion on Monday from BDT 74.83 billion of the previous working day, according to the central bank statistics, released on Tuesday.
The call money rate ranged between 3.50 per cent and 4.50 per cent on the day unchanged from the previous level. 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 came down to 4.03 per cent on the day from 4.06 per cent of the previous working day, 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 Tuesday.
The US dollar was quoted at BDT 80.59-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).
However, the average exchange rate of US dollar rose to BDT 81.9868 for bill for collection (BC) on Monday from BDT 81.4462 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
Meanwhile, the banks quoted at BDT 79.70-BDT 80.20 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.