Dhaka, Bangladesh (BBN)– The inter-bank call money rate was stable on Sunday despite of withdrawing pressure from the banks ahead of the Eid-ul-Fitr festival, treasury officials said.
The call rate ranged between 4.25 per cent and 6.75 per cent on the day unchanged from that of the previous working day. However, most of the deals were settled at rates varying between 4.50 per cent and 5.00 per cent, the market operators confirmed.
“The call rate may keep stable ahead of the Eid festival as the central bank has injected fresh fund continuously into the market,” a senior treasury official of a commercial bank said, adding that the short-term borrowings normally increase before the Eid festival to meet the growing demand of the bank clients.
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) injected fresh funds worth Tk 16.825 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 Thursday, the central bank injected funds worth Tk 11.19 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 69.5800 in the inter-bank foreign exchange market Sunday against BDT 69.5800-BDT 69.6000 of the previous working day, the BB data showed.
BBN/SI/AD-05Sept10-7:06 pm (BST)