Dhaka, Bangladesh (BBN) – The inter-bank call money rate declined slightly in the last week while the exchange rate of local currency against the US dollar remained stable, market operators said.
The highest level of call money rate came down to 8.75 per cent on Wednesday from 9.0 per cent earlier. But most of the deals were made at rates between 7.75 per cent and 8.75 per cent on the day
On Thursday, the highest level of call money remained unchanged at 8.75 per cent while the lowest level of rate rose to 7.0 per cent from 6.75 per cent of the previous working day.
The overall turnover in the call money market came down to BDT 58.70 billion on Thursday, the last working day of the week, from BDT 59.82 billion on Wednesday, according to the central bank statistics.
On the other hand, the banks quoted the dollar signal rate at BDT 77.80 in the last week unchanged from the previous level.
The Bangladesh Bank (BB) purchased $47 million more from four commercial banks directly in the last week to help keep the inter-bank foreign exchange (forex) market stable.
A total of $1.87 billion was bought from the commercial banks between July 2 and February 26 of the current fiscal year (FY), 2014-15, as part of BB's intervention in the market.
BBN/SSR/AD-27Feb15-2:45 pm (BST)