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Head Lines BSS, DHAKA, The Independent The Bangladesh Taka was steady against the US dollar in inter-bank trade yesterday while the euro eased slightly and yen rose supported by speculation that the US may ask Japan not to intervene market, dealers said. The dollar traded at 58.4100-58.4200 to the Taka yesterday in line with its previous closing on Sunday, foreign exchange dealers of leading commercial banks said. Trading was higher as most international markets reopened yesterday after the two-day weekend holiday. "Pressure for dollar buying was strong from importers", dealers said. Sentiment on Taka, however, remained bearish thanks to huge surplus funds in the banking system, they said. Some dealers took long-position in yen as the Japanese yen rose against the dollar in line with a surge in Japanese shares. Besides, there was a speculation that the visiting US Treasury Secretary John Snow may warn Tokyo against intervention, dealers said. The Japanese yen was quoted at 116.71 to the dollar yesterday, against 116.87 in New York late Friday while the euro fell to 1.0989 dollars yesterday from 1.0985 dollars in New York Friday, dealers on online trading said. "Investors were bullish on the yen due to a strong rise in the Nikkei index," dealers on online trading said noting that the Tokyo Stock Exchange's Nikkei-225 index had gained 237.59 points or 2.29 percent to 10,581.14. They said the yen also held firm as investors speculated Snow would warn Japanese authorities against massive yen-selling intervention to prevent the Japanese currency's appreciation relative to the dollar. "There is the ongoing speculation that Snow may warn the Japanese authorities against massive intervention," dealers said noting that investors are closely monitoring Snow's comments on the foreign exchange topic. Snow is to hold talks with Japanese Financial ServicesMinister Heizo Takenaka, Finance Minister Masajuro Shiokawa and Hiroshi Okuda, chairman of the Japan's largest business group Nippon Keidanren. Okuda also chairs Toyota Motor Corp. Earlier, Zembei Mizoguchi, Japan's vice finance minister for international affairs, told reporters that Tokyo was ready to intervene in the market to halt severe currency fluctuations. DSE closes mixed, CSE ends lower ECONOMIC DESK, The Independent The price indices at Dhaka Stock Exchange closed mixed yesterday with the losers outnumbering the gainers while the trading at Chittagong Stock Exchange closed lower as the losers outnumbered the gainers. Weighted Average Share Price Index at DSE dropped by 0.01 points or 0.0002 per cent to close at 823.22 points from 823.23 points on Sunday. DSE-20 Index, however, increased by 1.28 points or 0.12 per cent to close at 1014.01 points from 1012.73 points on Sunday.Of the 165 issues traded yesterday, 51 gained, 70 declined and 44 remained unchanged. Some 1,642,103 shares and debentures valued at Tk 4.61 crore were transacted yesterday as against 1,863,221 shares worth Tk 3.11 crore on the previous day. Market capitalisation remained unchanged at Tk 66.70 billion. Meanwhile, trading at Chittagong Stock Exchange closed lower yesterday as the losers outnumbered the gainers. CSE All Shares Price Index dropped by 5.50 points or 0.40 per cent to close at 1351.84 points. CSE Selective Index also declined by 9.77 points or 0.81 per cent to close at 1188.37 points. Of the 52 listed issues traded yesterday, 10 gained, 25 declined and 17 remained unchanged. BSS, DHAKA, The Independent The call money rate was steady amid thin money demand yesterday as most commercial banks had surplus liquidity, fund managers of leading commercial banks said. The call money rate ranged between 3.50 per cent and 7.00 per cent in line with its precious range on Tuesday, fund managers said. Central bank officials said more than 15 commercial banks took part in the call money market yesterday. Some of these banks faced cash short-fall at the end of the day after their payments and deposit withdrawals. Dhaka Stock Exchange Link International Stock Exchange Link |
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