03 Mar 2016
Daily Markets Commentary
Bangladesh
Remittances drop in 8 months
Bank Sells
Bank Buys
TT & OD
BC
Currency
TT Clean
OD Sight
OD Transfer
78.8900
58.7708
59.9358
80.1209
86.9716
112.2350
10.3342
0.7045
57.7826
9.2854
21.9352
12.0790
11.7101
78.9000
58.7808
59.9458
80.1309
86.9816
112.2450
10.3442
0.7050
57.7926
9.2954
21.9452
12.0890
11.7201
USD
AUD
CAD
CHF
EUR
GBP
HKD
JPY
SGD
NOK
AED
CNH
DKK
77.9000
55.8008
56.9558
77.1409
83.3816
108.5450
9.8242
0.6730
54.8026
8.7954
20.7452
11.8690
11.1201
77.7600
55.6008
56.7058
76.9209
83.1616
108.2950
9.8042
0.6729
54.7526
8.7454
20.6952
11.8190
11.0701
77.6200
55.4508
56.5558
76.7709
82.9816
108.0750
9.7842
0.6728
54.7026
8.6954
20.6452
11.7690
11.0201
Cash
Bank Sells
USD
GBP
EUR
Bank Buys
81.3000
111.9700
86.7267
USD
GBP
EUR
79.3000
108.7590
83.6166
Indicative Forward Buying Rates
USD
GBP
EUR
JPY
30 Days
60 Days
90 Days
120 Days
180 Days
77.9324
108.5902
83.4164
0.6732
77.9649
108.6354
83.4511
0.6735
77.9972
108.6805
83.4859
0.6738
78.0166
108.7256
83.5207
0.6741
78.0551
108.8154
83.5902
0.6746
Indicative Forward Selling Rates
USD
GBP
EUR
JPY
30 Days
60 Days
90 Days
120 Days
180 Days
79.3478
112.8753
87.5275
0.7092
79.7842
113.4980
88.0689
0.7135
80.2028
114.1120
88.6084
0.7177
80.6134
114.7145
89.1419
0.7220
81.3983
115.8893
90.1952
0.7305
London Interbank Offer Rates (LIBOR) as of 02 Mar 2016 (For Indicative Purposes Only)
Currency
USD
GBP
EUR
1Month
0.4376
0.5091
-0.2800
2Month
0.5201
0.5463
-0.2473
3Month
0.6349
0.5872
-0.2270
6Month
0.8890
0.7329
-0.1343
1Year
1.1955
0.9996
-0.0244
Indicative Rates
Bank Sells
INR
1.1833
Bank Buys
INR
1.1433
Ø
All FX Rates provided are for one unit of foreign currency against BDT for HSBC Bangladesh.
Ø
The above rates are applicable for transactions of values upto USD 10,000 or equivalent in other currencies.
Ø
Contact Global Markets Front Office for rates of transactions over USD 10,000 or equivalent in other currencies.
Ø
The above rates are subject to change without notice at the discretion of the Bank.
Ø
HSBC retains the right to accept or reject any transaction based on the rates provided above.
Ø
The above rates are not applicable for ATM transactions conducted in Non-HSBC machines.
Ø
Anyone acting upon these rates for valuation purposes will do at their own risk.
Ø
Rates issued on Thursdays will remain in effect for transactions on Saturdays.
PUBLIC
Global Markets
Disclaimer
This report must be read in
conjunction with the disclaimer on
Page3 that forms a part of it
Issued by The Hongkong and Shanghai Banking
Corporation Limited.
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Daily Markets Commentary
Domestic market
4 USDBDT rate remains stable as sufficient liquidity is available in the market as per demand.
4 Overnight call money deals trading mostly within the range of 2.50 - 3.50%.
International Market
4 FX Market Update: The greenback was back versus yen after losing grip of a two-week
high. The euro drifted up from a one-month trough. While the ADP National Employment
Report pointed to a healthy outcome for Friday's non-farm payrolls, a Federal Reserve
survey found that economic conditions varied considerably across regions and within
sectors. The mixed picture remains a headache for Fed policymakers face when they next
meet to decide the path of interest rates on March 15-16. The Australian dollar started trade
in Asia on Thursday near its 2016 peak, having soared on the back of surprisingly strong
local data just as the greenback, euro and yen settled into a holding pattern.
[Source: Reuters]
Corporate and Economic News
4 Remittances drop in 8 months: Remittance inflow decreased by 1.15% to USD 9.8 billion
in eight months of the financial year of 2015-16 compared with that in the same period of
FY15, according to the Bangladesh Bank data released on Wednesday. The remittance
inflow figure was USD 9.9 billion in the July-February period of FY15. Experts said the fall
might put an adverse impact on the country’s gross domestic product. Former interim
administration adviser Mirza Azizul Islam told New Age on Wednesday that it was a matter of
concern that the country’s inward remittance was on the decline for the last few months. He
said, ‘The economies of Arabian countries, which are our main manpower export
destinations, are now facing crisis that has put an adverse impact on the country’s inward
remittance.’ Besides, an anti-immigration sentiment is building up in whole Europe, forcing
Bangladeshi nationals to leave the countries of the continent, he said.
[http://newagebd.net/207951/remittances-drop-8-months/]
2
PUBLIC
Market Snapshot
International Commodity Prices
ê
ê
é
ê
é
é
ê
ê
Brent Crude Oil ($ per bbl)
Natural Gas ($ per mm btu)
Gold (SPOT,$ per Troy oz)
Corn (¢ / bushel)
Soybeans (¢ / bushel )
Wheat (¢ / bushel)
Cotton (¢ / pound)
Sugar #11 (cents per pound)
34.72
1.67
1,239.90
355.50
861.50
450.00
55.93
12.94
Central Bank Policy Rates
Australia
Canada
Eurozone
Japan
Switzerland
England
US
2.00%
0.50%
0.05%
0.00-0.10%
- 0.75%
0.50%
0.25-0.50%
International Stock Market
FTSE 100 Index
Nikkei 225 Index
6,147.06 ê
16,895.08 é
DowJones Industrial Average
16,899.32 é
Local Stock Market
Dhaka Stock Exchange
DSEX Index
Chittagong Stock Exchange
CSE All Share Price Index
(CASPI)
Source: Websites
4,462.18 ê
13,772.38 ê
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Daily Markets Commentary
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3
PUBLIC
The Hongkong and Shanghai
Banking Corporation Limited
Management Office
Level 4, Shanta Western Tower, 186 Bir
Uttam Mir Shawkat Ali Road, Tejgaon I/A
Dhaka-1208, Bangladesh
Tel: +880 2 887 8872-73
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