Dhaka, Bangladesh (BBN) – Call money rate slightly moved on Monday while the US dollar also gained against the local currency in the inter-bank foreign exchange market, treasury officials said.
The call rate showed an upward trend on the day due to the central bank’s withdrawal of fresh fund from the market, using its reverse repurchase agreement (repo) tool.
The Bangladesh Bank (BB), the country’s central bank, withdrew fund from the market amounting to Tk 6.0 billion at 6.75 per cent on the day through the reverse repo auction to keep the money market stable.
The call rate ranged between 7.0 per cent and 12 per cent on the day from 6.25 per cent and 11.50 per cent of the previous day. However most of the deals were settled between 8.0 per cent and 8.50 per cent, market operators confirmed.
The US dollar, however, posted slight gain against the local currency in the inter-bank foreign exchange market due to increased demand for the greenback, they added.
However, the banks quoted the US dollar rate between Tk 68.75 and Tk 68.77 on the day against Tk 68.75 of the previous level in the inter-bank foreign exchange market.
BBN/SI/SS/AD-24November08-9:45 PM (BST)