Kyodo economic news summary -3-.
Japan Weekly Monitor, January, 2004
TOKYO, Jan. 5 Kyodo
---------- Dollar sinks to 40-month low in Tokyo morning deals
TOKYO - The U.S. dollar sank to a 40-month low of 106.76 yen Monday morning in Tokyo in the year's first trading here as yen bulls overwhelmed the Bank of Japan's apparent market interventions.
At noon, the dollar was quoted at 106.95-98 yen, compared with Friday's 5 p.m. quote of 107.00-10 yen in New York and last Tuesday's 5 p.m. quote of 106.95-98 yen in Tokyo. The Tokyo market was closed from Wednesday to Friday last week for New Year holidays.
---------- NEC overcharges Defense Agency 63 mil. yen
TOKYO - NEC Corp. overcharged the Defense Agency a total of 63 million yen between 1997 and 2001 in five contracts for equipment, according...
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