The exchange rate against the US dollar has come down from 77.7 US cents to 70.3 US cents; against the trade-weighted index, it has come down from 60.2 to 57.0. I come now to the point where I should say a few things about what has been happening in Asia and the rest of the world.
As banks have extended their range of activities and involvement in new markets, they must be particularly mindful of potential for concentrations of risk to arise for a number of reasons. First, any new activity will be less familiar and involve less data and experience for evaluating risk compared with long-standing activities or markets.