Dhaka, Bangladesh (BBN) – The overall transaction in inter-bank call money market fell drastically on Wednesday while the exchange rate of local currency against the US dollar remained stable, market operators said.
The call rate ranged between 7.0 per cent and 8.0 per cent on the day unchanged from the previous level. But most of the deals were made at rates between 7.25 per cent and 7.50 per cent on the day, market operators said.
The overall turnover in the call money market came down to BDT 38.90 billion on Wednesday from BDT 53.29 billion of the previous working day, according to the central bank statistics.
On the other hand, the banks quoted the dollar signal rate at BDT 77.80 in the last week unchanged from the previous level.
Meanwhile, Bangladesh’s stock extended their losing streak for the five consecutive sessions on Wednesday as ongoing political unrest with no sign of ending has dampened investors’ confidence severely.
The market opened with a downward note which sustained throughout the session amid modest see-saw as most investors were on selling mood, fearing further fall.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down further by 35.18 points or 0.78 percent to close at 4,442.81 points.
The two others indices also saw steep decline. The DS30 index, comprising blue chips plunged 16.39 points or 0.96 percent to close at 1,675.11 points. The DSE Shariah Index (DSES) shed 16.38 points or 1.50 percent to close at 1,074.60 points.
However, strong selling pressure helped turnover to cross BDT 3.0 billion-mark and amounted to BDT 3.13 billion, registering an increase of 8.30 percent over the previous session’s value of BDT 2.89 billion.
The port city bourse, Chittagong Stock Exchange (CSE) also saw steep decline with its Selective Categories Index – CSCX – lost 56.62 points to close at 8,255.22 points.
Losers beat gainers 147 to 55, with 21 issues remaining unchanged at the port city bourse that traded 6.08 million shares and mutual fund units, turnover value of BDT 222.10 million.
BBN/SSR/AD-18Mar15-11:55 pm (BST)