Dhaka, Bangladesh (BBN) – Bangladesh’s call money rates increased further as rising trend in the cash withdrawal pressure before the Eid-ul-Azha festival continues.
The weighted average rate on call money remained rose to 3.85 per cent on Tuesday from the day from 3.80 per cent of the previous working day while the inter-bank call money rate remained stable in the range between 1.80 per cent and 4.50 per cent.
However, most of the deals were settled between 3.25 per cent and 4.00 per cent, according to the market operators.
On the other hand, the volume of overall transactions in the money market came down to BDT 83.52 billion on the day from BDT 85.72 billion of the previous level, according to the Bangladesh Bank (BB) statistics, released on Wednesday.
“The existing trend in the call money market may continue in the coming days,” a senior treasury official of a leading private commercial bank told BBN in Dhaka without elaborating.
However, the exchange rate of Bangladesh Taka (BDT) remained unchanged against the US dollar in the inter-bank foreign exchange market in early hour transactions on Wednesday.
The US dollar was quoted at BDT 80.70 unchanged from the previous working till the report was filed at 11:01 am (local time).
However, the local currency depreciated slightly again the US dollar at customer level for clearing import payment obligations.
The average exchange rate of US dollar rose to BDT 81.4802 for bill for collection (BC) on Tuesday from BDT 81.5425 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).