Dhaka, Bangladesh (BBN) – Call money rate remained stable Tuesday while the US dollar was unchanged against the local currency in the inter-bank foreign exchange market, treasury officials said.
The call rate ranged between 0.10 per cent and 10.00 per cent on the day unchanged from the previous level. But most of the deals were made at rates between 0.10 per cent and 0.15 per cent on the day, they added.
On the other hand, 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 the dollar signal rate at BDT 69.06 on the day unchanged from the previous level in the inter-bank foreign exchange market.
The central bank has continued its intervention in the inter-bank foreign exchange market by buying more greenbacks from the commercial banks directly to keep the market stable.
As part of the move, the Bangladesh Bank (BB) purchased US$ 15 million more from three commercial banks Tuesday to help them comply with the net open position (NOP) rules on holding foreign exchange, officials said.
On Monday, the BB similarly purchased $ 37 million from four commercial banks on the same ground.
“The central bank normally uses such tool in line with the market demand that helps minimize mismatch in supply and demand,” a BB senior official said.
The BB bought a total of $1.511 billion from the commercial banks directly during fiscal 2008-2009 against only $202.50 million of the previous fiscal.
BBN/SS/SI/AD-08July09-2:04 am (BST)