Dhaka, Bangladesh (BBN)- The inter-bank call money rate was stable on Wednesday despite of withdrawing pressure of cash from the banks ahead of the Eid-ul-Fitr festival, treasury officials said.
The call rate ranged between 5.50 percent and 10.50 percent on the day against the previous range between 5.00 per cent and 10.50 per cent. However, most of the deals were settled at rates varying between 9.00 per cent and 10.00 per cent, the market operators confirmed.
“The call money rate was stable on the day following injection of fresh funds into the market by the central bank to keep it stable,” a senior treasury official of a commercial bank said, adding that the call money rate may ease today (Thursday) after decreasing withdrawal pressure of cash from the banks.
The central bank has continued providing liquidity support to the banks and non-banking financial institutions (NBFIs) to ease the cash money demand in the market during the holy month of Ramadan and Eid-ul-Fitr.
Under the operation, Bangladesh Bank (BB) pumped fresh funds worth Tk 38.42 billion at 5.50 per cent on the day through auction of repurchase agreement (repo) and special liquidity support to the primary dealers (PDs).
On Monday, the central bank injected funds worth Tk 26.95 billion using same mechanisms, the BB officials confirmed.
On the other hand, the US dollar remained almost unchanged against Bangladesh Taka (BDT) in the inter-bank foreign exchange market due mainly to a low demand for the greenback.
The US dollar was quoted at BDT 69.5700-BDT 69.5800 in the inter-bank foreign exchange market on Wednesday against BDT 69.5800- BDT 69.5850 of the previous working day, the BB data showed.
BBN/SI/AD-08Sept10-5:52 pm (BST)
