The local currency was steady against the green back last week and it
was traded at 77.67 levels. Bangladesh received USD 1.27 billion as
inward remittances in March, 2014. We feel that the market will see the
same tone next week as well. The average daily inter-bank USD/BDT
transaction volume was about USD 52.55 million against around USD 25.84
million of the week before.
Most of the banks kept their published foreign exchange rates unchanged this week. The USD/BDT selling rates for importers of major foreign and private banks was at 77.85-78.35, while USD buying rates from exporters were at 76.85-77.35. For non-commercial payments such as tele graphic transfer as donations, wage earners remittance, dollar drafts etc, the average T.T buying rate was in the range of 76.85-77.35while average T.T selling rate was at 78.1006 on the last working day.
USD/BDT swap market in this week was very much active. The daily average volume of swap transaction was around USD 45.00 million. The local call money market traded around 7.00 per cent. The central bank supported commercial banks through assured liquidity support and reverse repo windows. Bangladesh Bank accepted 91 days T/Bill of BDT 9.00 billion and 182 days T/Bill of BDT 8.50 billion. The cutoff yield of 91-Days T-Bill was 7.15 per cent and 182 days T/Bill was 7.51 per cent. It also accepted 2 Years Govt. Treasury bond at yield of 8.67 per cent.
Most of the banks kept their published foreign exchange rates unchanged this week. The USD/BDT selling rates for importers of major foreign and private banks was at 77.85-78.35, while USD buying rates from exporters were at 76.85-77.35. For non-commercial payments such as tele graphic transfer as donations, wage earners remittance, dollar drafts etc, the average T.T buying rate was in the range of 76.85-77.35while average T.T selling rate was at 78.1006 on the last working day.
USD/BDT swap market in this week was very much active. The daily average volume of swap transaction was around USD 45.00 million. The local call money market traded around 7.00 per cent. The central bank supported commercial banks through assured liquidity support and reverse repo windows. Bangladesh Bank accepted 91 days T/Bill of BDT 9.00 billion and 182 days T/Bill of BDT 8.50 billion. The cutoff yield of 91-Days T-Bill was 7.15 per cent and 182 days T/Bill was 7.51 per cent. It also accepted 2 Years Govt. Treasury bond at yield of 8.67 per cent.
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