Money Market
In the Treasury bill auction held on Sunday, bid of only 28-D t-bill for BDT 2,255.00 million was accepted, compared with BDT 1,635.00 million in the previous week's bid. Weighted average yield of 28-D t-bill remained unchanged at 6.60 percent.

Call money rate was mostly steady this week. Most of the deals ranged between 10.00 and 20.00 percent throughout the week.

International FX Market
In the beginning of the week, the euro fell back towards last week's seven-month low against the dollar after French voters rejected the European Union constitution, throwing doubts over the political future of the bloc.

The "No" vote garnered 55 percent, much higher than most polls suggested before the referendum on Sunday. While the outcome was not expected to jeopardise the monetary union underpinning the single currency, analysts said it did raise questions about public support behind the EU and future integration. The euro was down 0.5 percent against the yen and was under-performing against both the Swiss franc and British pound.

The euro dropped to its lowest level against the dollar in more than seven months in the middle of the week, after media reports that a possible failure of European Monetary Union (EMU) was discussed at a meeting at which the German finance minister and the Bundesbank president were present. Neither Finance Minister Hans Eichel nor Bundesbank President Axel Weber commented on the risk of EMU failure at the meeting, the reports said. The reports compounded market concerns about stability in the Euro Zone, following a decisive "no" to the European Union constitution in France on Sunday and a widely expected rejection of the charter in the Netherlands on Wednesday.

By the end of the week, the euro rose against the dollar and yen, bouncing off the previous day's eight-month low against the dollar, reached after France and the Netherlands rejected the EU constitution. Against the yen, the dollar was down 0.35 percent after rising to a two-month high in US trade. Market attention is now on Friday's US payrolls report, a key gauge of the US economy's health, with economists forecasting much slower job creation in May than in April.

-Standard Chartered Bank