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weekly foreign exchange market review


The local currency was stable against the greenback last week as well. Huge inward remittances ahead of Eid-ul-Azha eased the market. We feel the market will see the same tone next week as well.

The average daily inter-bank USD/BDT transaction volume was about USD 11.30 million against around USD 27.60 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 77.85-78.40, while USD buying rates from exporters were at 76.85-77.40. 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 76.85-77.40, while average T.T selling rate was at 78.1322 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 60.00 million.

This week (9Sept 22 – Sept 26, 2013), the local call money market traded around 7.25 per cent.The Central Bank supported commercial banks through assured liquidity support window. Bangladesh Bank accepted 91 days T/Bill of BDT 7.00 billion and 364 days T/Bill of BDT 4.00 billion. The cutoff yield of 91-Days T-Bill was 8.44 per cent-8.49 per cent and 364 days T/Bill was 10.48 per cent-10.60 per cent. It also accepted 15 Years Govt. Treasury bond worth of BDT 1.50 Billion at yield of 12.42 per cent and 20 Years Govt. Treasury bond worth of BDT 1.50 Billion at yield of 12.55 per cent.

-Commercial Bank of Ceylon PLC


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