Dhaka, Nov 25 (bdnews24.com)--The call money rate in inter-bank money markets was normal ahead of Eid-Ul-Azha unlike past years.

The call money rate fluctuated between 3.25 percent and 8.50 percent on Wednesday despite the pressure of cash withdrawal.

Banks did not grapple with the demand for cash as there was around Tk 36,000 crore extra liquidity in the banking sector.

The call money rate is the interest rate that banks charge brokers to finance margin loans to investors.

Mohammad Ruhul Amin, managing director, the National Credit and Commerce Bank, a private bank, told bdnews24.com said that the call money rate was normal due to extra liquidity with banks.

He also said people crowded the banks to withdraw the money sent by their expatriate relatives. The call money market was normal despite the crowd of clients to withdraw cash throughout the week.

Banks will go on a three-day holiday on Friday, so, the last transaction before the Eid will be on Thursday.

People lined up in long queues in banks, specially at ATM booths, to withdraw money on Wednesday and flocked to Bangladesh Bank branches in droves for new notes.

For the past few years, the call money rate would fluctuate between 15 percent and 35 percent ahead of the Eid, though it fluctuated between 5.50 percent and 8 percent before the last Eid-ul-Fitr.

The call money market was normal despite the crowd of people seen in the weeklong.

The call money rate was between 3 and 8.5 in the current week. However, non-banking financial institutions are charging high interest as people tend to take more loans from their call money.

Remittance inflow has increased ahead of Eid-Ul-Azha, with $ 70 crore coming in the three weeks of the current month.

Bangladesh Bank governor Atiur Rahman told bdnews24.com on Wednesday that the inflow might top $ 100 crore by the end of the month.

bdnews24.com/arh/zr/bd/2243h.