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Dollar continues to rise against taka
FE Report
2/16/2006
The US dollar gained further Wednesday against Bangladesh Taka (BDT) and crossed Tk 70 for opening letters of credit (LCs) against imports.
It rose by Tk 0.15 per unit from Tuesday's high at Tk 70 due to short supply of the greenback in the market, the sources in the banking sector said.
However, the banks quoted the dollar rate between Tk 67.25 and Tk 67.30 on the day against Tk 67.20 of the previous day in the inter-bank foreign exchange market.
For opening LCs against imports, the nationalised commercial banks (NCBs) quoted the dollar at Tk 68.97, while the private commercial banks (PCBs) and foreign commercial banks (FCBs) sold the greenback between Tk 70.15 and Tk 70.00 on the day.
Currently, some commercial banks have been facing problems in making their import payments against LCs in the recent days due to short supply of the greenback in the inter-bank market.
On the other hand, the call rate rose to 24 per cent on the day against 23.50 of the previous day, while most of the deals were settled between 11 per cent and 12 per cent.
The two NCBs - Janata and Agrani - mostly quoted the call rates between 12 per cent and 13 per cent Wednesday. However, the PCBs and FCBs lent funds between 9.50 per cent and 24 per cent on the day against previous day's range between 9.0 per cent and 23.50 per cent.
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