Dhaka, Bangladesh (BBN) – The upward 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 Monday.
The weighted average of call money rate rose to 3.97 per cent on Sunday from 3.95 per cent of the previous working day, according to the central bank’s latest statistics, released on Monday.
“Such upward trend of call money rate may continue today (Monday),” a senior treasury official of a leading private commercial bank told BBN in Dhaka.
However, the call money rate ranged between 2.00 per cent and 4.50 per cent on Sunday unchanged from the previous level. But most of the deals were settled at rates varying between 3.25 per cent and 4.50 per cent, the market operators said.
The volume of overall transactions in the inter-bank call money market came down to BDT 72.86 billion on Sunday from BDT 74.74 billion of the previous level, the central bank latest data showed.
On the other hand, the US dollar was quoted at BDT 80.55-BDT 80.60 against BDT 80.56-BDT 80.60 of the previous level in the inter-bank foreign exchange market till the report was filed at 11:01 am (local time).
However, the average exchange rate of US dollar came down to BDT 81.4453 for bill for collection (BC) on Sunday from BDT 81.4500 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
“The BDT may remain stable in the coming days against the US currency in both the inter-bank forex market and customer level flowing higher inflow of remittance ahead of the Eid festival,” another treasury official explained.