Dhaka, Bangladesh (BBN) – Call money rate remained stable on Wednesday while the US dollar was unchanged against the local currency in the inter-bank market, treasury officials said.
The call rate ranged between 0.10 per cent and 3.25 per cent on the day, unchanged from the previous working day. But most of the deals were made at rates between 0.10 per cent and 0.15 per cent on the day, they added.
The US dollar remained unchanged against Bangladesh Taka (BDT) due mainly to low demand of the greenback in the inter-bank foreign exchange market.
The banks quoted single rate for the dollar at BDT 69.06 on the day, unchanged from the previous level, market operators said.
The central bank continued its intervention in the foreign exchange market through buying the US dollar from the commercial banks directly aiming to keep the market stable.
As part of the move, the Bangladesh Bank (BB), the country’s central bank, purchased US$36 million from four commercial banks Wednesday, the central bank officials said.
The central bank bought $583 million from the commercial banks form July 2 to August 5 as part of its intervention in the market, they confirmed.
In fiscal 2008-09, the central bank of Bangladesh bought a total of $1.484 billion directly from the commercial banks against only $202.50 million in the previous fiscal, the BB’s data showed.
BBN/SS/SI/AD-06August09-12:25 am (BST)