Call money rate rises to 5.03%
The rising trend in interbank call money rate continues as the country’s banks on Monday borrowed from each other at an overnight rate of 5.03%, equaling the previous peak recorded on 16 June 2020. The call money rate was stable at 5.02% in the previous five days, according to the Bangladesh Bank. The overnight call money rate is the rate at which banks lend funds to each other at the end of the day in the overnight market. Industry insiders have said if the supply of money does not increase, the cash shortage may exacerbate ahead of Eid-ul-Azha. Speaking with treasury heads of several private banks, The Business Standard has learned that a lot of money has gone to the Bangladesh Bank from the banking channel because of buying US dollars from the central bank. As a result, banks are left with reduced liquidity.
City Bank bond makes trading debut
Trading of City Bank Perpetual Bond yesterday began at the Dhaka Stock Exchange (DSE) under settlement category “N”. Sheikh Mohammad Maroof, acting managing director of City Bank, and Mohammad Mahbubur Rahman, additional managing director, rang the bell to inaugurate the trading at the DSE Tower in Motijheel, Dhaka. The DSE trading code for City Bank Perpetual Bond is “CBLPBOND” while the scrip code is 26011, it added. Having gotten approval from Bangladesh Bank and the Bangladesh Securities and Exchange Commission on August 19, 2020 and December 9, 2020 respectively, the bank completed the successful subscription of Tk 4 billion on March 7, 2021 through private placement.
Midland Bank celebrated 9th anniversary
Midland Bank Limited (MDB), a 4th generation private commercial bank, celebrated its 9th anniversary on Monday. On the occasion, the bank held a ‘doa’ session in its Board Room at Gulshan-2 in Dhaka. Kazi Raihan Zafar, director of the bank, along with Md Ahsan-uz Zaman, Managing Director & CEO, Md Zahid Hossain, DMD, and the senior management members joined the event.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↓ 38.29||↓ 0.13 %|
|FTSE100||$ 7,121.81||↑ 105.56||↑ 1.50 %|
|Nikkei 225||$ 26,305.23||↑ 534.01||↑ 2.07 %|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 112.01||↑ 2.45||↑ 2.24 %|
|Crude Oil (Brent)||$ 115.20||↑ 1.07||↑ 0.94 %|
|Gold Spot||$ 1,839.95||↑ 1.21||↑ 0.07 %|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 92.8000|
|GBP 1||BDT 113.4666|
|EUR 1||BDT 97.4586|
*World Commodities & Local and Global Stock Indices data are taken from bloomberg.com<
* Exchange Rates are taken from BB website, as on latest update.<