& çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð

Weekly Currency Roundup
July 30-Aug 04, 2005
Local FX Market
Demand for US dollar remained high in the market.
Money Market
In the Treasury bill auction held on Sunday, bid for BDT 9,602.00 million was accepted, compared with BDT 9,332.00 million in the previous week's bid. Weighted average yield of 28-day t-bills was unchanged, while that of 364-day t-bills were increased by 5 bps to 7.05%.
Call money rate was upward in the week. Call money rate ranged between 4.00 and 5.00 during the beginning of the week, while the rate was closed at6.00-8.00 percent.
International FX Market
The dollar slid against major currencies on Monday, hitting a one-week low against the euro as the market waited to see if a US manufacturing report due later could inject some life into the currencies flagging rally. The dollar failed to gain despite comments over the weekend from a US Federal Reserve official that interest rates might need to rise further and after upbeat data on Friday, with some analysts saying all the good economic news was factored in. Currencies showed little reaction to the death of Saudi Arabia's King Fahd. Oil prices rose on the news but a Saudi source said the country's oil policy would not change after the king's death.
The dollar became weaker in during middle of the week as investors waited for upcoming US jobs data to gauge the pace of expected interest rate hikes and remained uninspired by a slew of strong economic data. Traders were focused on Friday's payroll figures, the week's big data, for signs that the Fed could keep hiking rates next year. Analysts expected another month of solid employment gains, with median estimates pointing to the creation of about 183,000 jobs. Sterling was up to its recent 3-week high versus the dollar but moved away from a two-week high against the euro as markets waited for Thursday's Bank of England (BoE) interest rate decision. The BoE is widely expected to cut rates this week.
The euro fell against the dollar in early European trade on Thursday ahead ofthe European Central Bank's rate decision, but investors were reluctant to take any big positions before Friday's key US jobs data. Traders were also keenly awaiting the Bank of England's policy decision due at 1100 GMT, with a rate cut widely expected. Recent data have suggested that the Euro Zone economy may be pulling out of the doldrums, raising expectations in money markets that the ECB may raise rates next year. But for now the ECB is widely expected to leave rates at 2 percent for a 26th consecutive month. The bank will announce its decision at 1145 GMT.
- Standard Chartered Bank