The call money rate nosedived to an all-time low -- 1.50 per cent yesterday due to higher inflow of funds driven by improved recovery and higher deposit growth, fund managers said.

The call money rate touched the day's high at three per cent and ranged between 1.50 per cent and 2.50 per cent in most deals.

The market experienced surplus fund flow due to recovery drives and realisation of bills when credit demand was lower these days, fund managers of some private banks said.

Some nationalised commercial banks are facing difficult times with a big amount of surplus funds that have a cost. "We already have mobilised big funds and are expecting more funds from savings certificates", on of them said.

The call money rate hit a record high at 40 per cent in February due to liquidity crunch with some banks driven by the central bank's new provision about CRR.

Meanwhile, US dollar was slightly weak against Bangladesh taka in inter-bank market yesterday despite the greenback's rally against majors on Wall Street gains in week's closing Friday, dealers said.

They said the dollar gained points against majors as the euro's rise toward parity was hit by fears of accounting misdeeds on the other side of the Atlantic.

Dealers said foreign exchange market last week was the breakdown of the strong link between the stock movements and the dollar. "The dollar had gained some support from the equity gains", they said.

Most dealers see the technical bounce in the dollar is due and there are fears that the plague of accounting irregularities may have spread across the US borders.

Foreign currency trading in the local interbank market, however, was very thin yesterday due to weekend holiday in most world foreign exchange markets, dealers said.

The dollar was traded at 58.4950-58.5000 taka yesterday slightly lower than its previous closing at 58.5000-58.5100 taka Thursday, dealers said.

Meanwhile, the single European currency fell and was quoted at 0.9736 dollars from 0.9789 Thursday in line with European trading, they said.

The pound was at 1.5225 dollars after 1.5248 a day earlier while the dollar edged up to 120.26 yen from 120.15 on Thursday, dealers said.