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Call rate unchanged, dollar mostly stable
FE Report
10/19/2005
The call money rate remained unchanged Tuesday while the US dollar was mostly stable against the local currency in the inter-bank foreign exchange market, sources said.
The call rate recorded a stable trend on the day despite the central bank's withdrawal of fresh fund from the market, using its reverse repurchase agreement (repo) tool.
The Bangladesh Bank (BB) withdrew fund from the market amounting to Tk 300 million at 5.50 per cent Tuesday through the reverse repo auction to keep the market stable.
The call rate ranged between 5.25 per cent and 12 per cent on the day, unchanged from the previous level while most of the deals were settled between 6.00 per cent and 6.50 per cent, the market sources added.
The three nationalised commercial banks (NCBs) - Sonali, Janata and Agrani - mostly quoted the call rates between 6.00 per cent and 6.50 per cent Tuesday, while the private commercial banks (PCBs) and foreign banks lent funds at 5.25-12.00 per cent.
On the other hand, the US dollar was mostly stable against the local currency on the day, despite short supply of the greenback in the market.
The banks quoted the dollar at Tk 65.70-65.75 on the day, unchanged from the previous level.
The NCBs quoted the dollar at Tk 65.70-65.75 on the day, while the PCBs and foreign banks settled their deals at Tk 65.75.
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