Dhaka, Bangladesh (BBN) – The inter-bank call money rates witnessed a downward trend in early- hour trading on Monday while the US dollar was stable against the local currency in the foreign exchange market, officials said.
The call rate ranged between 5.25 per cent and 6.50 per cent on the day against 5.30 per cent and 6.50 per cent of the previous working day. However, most of the deals were settled at rates varying between 5.25 per cent and 6.0 per cent, they added.
On the other hand, the banks quoted the dollar rate at BDT 77.80 on the day unchanged from the previous level.
However, total turnover in the call money market came down to BDT 41.82 billion on Sunday from Tk 42.81 billion of the previous working day, according to the latest central bank statistics, released on Monday morning.
Thirty commercial banks out of 56 and 22 non-banking financial institutions (NBFIs) out of 31 took part in the market on Sunday.
The government borrowed BDT 22 billion from the market through issuing its T-bills on the day, officials said.
Total 24 bids of BDT 18.36 billion for 91-Day T-bills and 56 bids of BDT 28.86 billion for 182-Day T-bills were offered. Of those 17 bids of BDT 12 billion for 91-Day T-bills and nine bids of BDT 10 billion for 182-Day T-bills were accepted.
The ranges of the implicit yield of the accepted bids were 5.29-5.55 per cent and 6.00-6.15 per cent respectively, according to the auction result.
On the other hand, the Bangladesh Bank (BB) withdrew BDT 155.13 billion at 5.25 per cent from the market using its reverse REPO (repurchase agreement) auction on Sunday. It was Tk 161.91 billion on Thursday.