Call money rate almost doubles in a week
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February 05, 2023

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SUNDAY, FEBRUARY 05, 2023
Call money rate almost doubles in a week

Banking

TBS Report
23 November, 2021, 10:00 pm
Last modified: 25 November, 2021, 11:20 am

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Call money rate almost doubles in a week

The rate is increasing due to rapid increase in investment in the post-pandemic economy

TBS Report
23 November, 2021, 10:00 pm
Last modified: 25 November, 2021, 11:20 am
Representational Image. File photo.
Representational Image. File photo.

Call money rate almost doubled on Tuesday in the span of a week, thanks to a sudden increase in demand for cash in banks as investment has risen in various sectors after the pandemic situation turned a corner.

Seeking anonymity, a government bank treasury official told The Business Standard that for the last couple of weeks, the call money rate has significantly been increasing. Now, bank-to-bank call money transactions are happening at a rate of more than 4.50%, while the rate is 5.25% for non-bank financial institutions.

The rate is increasing due to rapid increase in investment in the post-pandemic economy, the official added.

According to the Bangladesh Bank, on Monday, interbank call money transactions were worth Tk5,388 crore at a rate of 4.31%. A week ago, the rate was at 2.93%.

Earlier on 15 November, the call money rate hit a 14-month high. On that day, the interbank call money transactions amounted to Tk8,378 crore at a rate of 3.14%.

On 7 November, the amount of call money transactions was Tk8,748 crore and the rate was 2.27%.

Central bank data says the call money rate was 1.78% in January, which rose to 2.8% in May and dropped to 2.25% in June. The rate was below 2% in August, but since the first week of November it started rising.

Economy / Top News

Call Money Rate / Banking

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