Dhaka, Bangladesh (BBN) – The volume of overall transactions in the call money market crossed BDT 71 billion on Monday while its rates remained unchanged.
The volume of transactions in the inter-bank call money market rose to BDT 71.96 billion on the day from BDT 67.38 billion of the previous level, according to the central bank latest statistics, released on Tuesday.
“Most of banks want to manage their fund position efficiently so that they buy or sell BDT in the call money market,” a senior treasury official of a leading commercial bank told BBN while explaining the ongoing trend in the money market.
Normally, demand for BDT increase by the end of each month, he added.
However, the weighted average rate on call money remained unchanged at 3.59 per cent on the day from the previous working day.
On the other hand, the inter-bank call money rate remained stable in the range between 1.80 per cent and 4.50 per cent on Thursday against the previous working day, the Bangladesh Bank (BB) showed.
The Bangladesh Taka (BDT) remained stable against the US dollar in the inter-bank foreign exchange market in early hour transactions on Tuesday.
The US dollar was quoted at BDT 80.65-BDT 80.66 unchanged from the previous level in the inter-bank foreign exchange market till the report was filed at 11:47 am (local time).
On the other hand, the local currency has also maintained a depreciating mode continuously against the US dollar at customer level for clearing import payment obligations.
However, the average exchange rate of US dollar rose to BDT 81.7553 for bill for collection (BC) on Monday from BDT 81.7338 of the previous working day, according to the statistics of the Bangladesh Foreign Exchange Dealers Association (BAFEDA).
Meanwhile, the banks quoted at BDT 80.20-BDT 80.40 to the remitters for telegraphic transfer (TT) of their funds while the US dollar quoted at BDT80.01 – BDT 80.2 for purchasing export proceeds, according to the BBN early hour monitoring report.