Dhaka, Bangladesh (BBN)– The overall transactions in call money market fell further on Sunday as lender banks have diversified their excess funds in inter-bank Repo and term deposits, bankers said.
The overall turnover in the inter-bank call money market came down to BDT 33.77 billion on the day from BDT 36.16 billion on Thursday. It was BDT 38.90 billion on Wednesday.
The call rate ranged between 7.50 per cent and 8.0 per cent on the day against 7.0 per cent and 8.0 per cent of the previous working day. But most of the deals were made at rates between 7.50 per cent and 8.00 per cent on the day, market operators said.
On the other hand, the banks are offered interest rates on inter-bank repurchase agreement (Repo) between 8.00 per cent and 8.25 per cent Sunday against maximum 8.50 per cent of the previous working day, they added.
“Some lender banks also offered their excess funds to cash-hungry banks and non-banking financial institutions (NBFIs) in the form of inter-bank FDR (fixed deposit receipt) for getting higher interest rates than the call money ones,” a senior treasury official of a leading private commercial bank explained.
BBN/SSR/AD-23Mar15-7:50 am (BST)