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The yen climbed back from a 4-1/2-year low against the dollar on Monday after Japan's economy minister suggested the currency might have weakened enough. The economy minister, Akira Amari, said the yen's excessive strength had largely corrected and further weakness could damage Japan's economy. Analysts, however, said any sharp dip in the dollar against the yen was a buying opportunity as Tokyo was committed to easier monetary policy.

The yen reversed from a 4-1/2-year low against the dollar on Monday after Japan's economy minister suggested the government might be satisfied with its current level, following a sharp decline over the past six months. The dollar dropped 0.6 percent to 102.65, having slid about 1 percent to 102.00. The euro lost 0.6 percent to 131.87 after plumbing 131.05. Support is seen around 131.10, with resistance above 132.55.
Sterling recovered from a six-week low against the dollar on Monday as the US currency dipped after recent strong gains, but it was still vulnerable to signs the US central bank may scale back monetary stimulus. The pound could be lifted by Bank of England minutes on Wednesday and a string of UK data this week, including retail sales and revised first quarter gross domestic product figures, if they continue to point to an improving UK economy.
The yen lifted off a 4-1/2-year low against the dollar on Monday after Japan's economy minister suggested the currency might have weakened enough, prompting some investors to pare bets against it. The dollar fell 0.6 percent to 102.65 yen, having hit a low of 102 in the Asian session. The euro lost 0.5 percent to 132 yen after plumbing 131.045. Last Friday, the dollar reached a high of 103.32 yen, while the euro hovered near a 3-1/2-year peak of 132.78 yen.
The Indian rupee weakened to its lowest level in 2-1/2 months on Monday, weighed down by heavy demand for the greenback from gold and oil importers along with choppy domestic shares. Sentiment remained weak after Standard & Poor's reiterated its negative outlook on India's credit rating on Friday, which is one notch above "junk", warning of the need to follow through on reforms and dealing a blow to a government that had recently pitched for an upgrade.
Interbank buy/sell rates for the taka against the dollar on Monday. 77.80-77.80 (77.80-77.80). Call Money Rates: 05.25-07.00 percent (previous 05.25-08.00 percent).
China's yuan closed slightly higher on Monday after the central bank surprised the market and fixed the official midpoint almost unchanged despite a rally in the dollar. Spot yuan ended at 6.1389 against the dollar from 6.1419 at Friday's close after the People's Bank of China set the yuan's midpoint at 6.1998, almost flat from 6.1997 on Friday.
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Index Closing Chg%
Arrow DJIA 15,335.28 0.12
Arrow Nasdaq 3,496.43 0.07
Arrow S&P 1,666.29 0.07
Arrow FTSE 6,755.63 0.48
Arrow DAX 8,455.83 0.69
Arrow CAC-40 4,022.85 0.54
Arrow Nikkei 15,360.81 1.47
Arrow H.Seng 23,493.03 1.78
Arrow Sensex 20,223.98 0.31






Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyApril
Trade Balance $-1.779 bln
Exports $2.130 bln
Imports $3.909 bln
WeeklyMay 20, 2013
Reserves $11.601 bln