Dhaka, Bangladesh (BBN) – The inter-bank call money rate reached maximum at 13 percent on Wednesday as increasing withdrawal pressure of cash from the banks ahead of the Eid-ul-Fitr festival, officials said.
The call rate ranged between 6.50 percent and 13 percent on the day against the previous range between 6.50 percent and 11.25 percent.
However, most of the deals were settled at rates varying between 10 per cent and 13 per cent, the market operators said.
Total turnover in the market rose to BDT 76.25 billion on the day from BDT 75.21 billion of the previous working day, according to the central bank statistics.
“The call money rate increased slightly on the day despite the central bank’s injection of fresh funds into the market to keep it stable,” a senior treasury official of a commercial bank said, adding that the pressure for withdrawal of cash from the banks may increase further in the coming days, ahead of the Eid-ul-Fitr festival.
The central bank has been providing liquidity support to the commercial banks using different monetary instruments to ease the pressure on the market during the holy month of Ramadan and Eid-ul-Fitr.
BBN/SSR/AD-09Aug12-11:15 am (BST)