Local Market FX
Local inter-bank FX market was active on Thursday. The market was liquid and USD/BDT rate was similar the previous working day.
Money market was active on Thursday. The market was very liquid and most deals traded at 1.00-1.50 percent.
The dollar weakened on Thursday as remarks by Federal Reserve Chairman Ben Bernanke on fiscal deficits the previous day encouraged dealers to push the currency back down toward the lowest levels of the year. The resumption of dollar selling eclipsed the more positive tone generated before Bernanke’s comments on Wednesday after several Asian central banks reiterated their backing for the dollar as a reserve currency and Treasury notes as a prime investment.