Dhaka, Bangladesh (BBN)- The inter-bank call money rate moved up further on Monday despite of injecting fresh funds in the market by the central bank, officials said.
The call rate ranged between 7.00 percent and 9.90 percent on the day against the range of 5.95 percent and 9.50 percent of the previous working day, according to the central bank statistics.
However, most of the deals were settled at rates varying between 8.00 per cent and 9.00 per cent, treasury officials said.
“The call money rate increased on the day due to higher demand for funds from large commercial banks,” a senior treasury official of a foreign commercial bank told BBN in Dhaka.
Bangladesh Bank (BB) has continued providing liquidity supports to the banks and non-banking financial institutions (NBFIs) to ease the cash money demand in the market during the holy month of Ramadan.
As part of the move, the BB injected fresh funds worth BDT 16.755 billion at 4.50 percent Monday through repurchase agreement (repo) auction and special liquidity support to the primary dealers.
“The liquidity support will be continued until the Eid-ul-Fitr festival in line with the market demand,” a BB senior official said.
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 69.4500-BDT 69.4600 in the inter-bank foreign exchange market Monday against BDT 69.4500- BDT 69.4580 of the previous working day, the BB data showed.
BBN/SSR/AD-16Aug10-6:34 pm (BST)
