The last week of the year observed some appreciation of greenback against Taka. USD/BDT traded around Tk 77.95 levels in the last days of the week.
Foreign exchange reserve was $22.30 billion on the last day of the week.
Market experts foresee a stable tone in USD/BDT exchange at the beginning of New Year. Market will receive higher amount of wage earners remittance along with conversions from RMG sector which might ease off the pressure on greenback.
The average daily inter-bank USD/BDT transaction volume was about $20.91 million against around $31.46 million of the preceding week.
Most of the banks kept their published foreign exchange rates unchanged throughout the week. The USD/BDT selling rates for importers of major foreign and private banks was at 78.40-79.00, while USD buying rates from exporters were at 77.40-78.00. 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 77.40-78.00 while average T.T selling rate was at 78.7550 on the last working day.
USD/BDT swap market last week remained brisk with daily average volume of swap transaction around $55.00 million.
The local call money rate showed upward trend due to some liquidity shortage and market was traded at 8.90 per cent on the last day of the week. Bangladesh Bank supported commercial banks through reverse repo and ALS windows. Bangladesh Bank accepted 91-day T-Bill and 182-day T-Bill. The cutoff yield of 91-day was 8.00 per cent and 182-day was 8.25 per cent.
-Commercial Bank of Ceylon PLC
