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FOREX KERB WATCH

Updated on 01th May, 2000

Comments by OWAIS S. KALIA (Khanani & Kalia)

Comments: In the international market, the European currencies suffered set back against the US Dollar and the single currency of the 11-Euro nations, Euro set record low against Dollar. This is the third record low of Euro during this week, and analysts said losses below $0.90 were likely to be happened. U.S. Dollar gained the firmness of three paisa on late Friday against Pak Rs owing to the high demand of the U.S. Dollar.

 

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

54.345 54.3 .0828 51.575 5.370

 


Comments: In the local market, the British Pound lost around .01 against Pak Rs. The British economy is still under stagnation and the fluctuation of Euro has left no major impact on British Pound. The stability of the international oil prices and the precious metal is a positive factor for the British Pound. The major economical indicators are still positive in England and the manufacturing sector is gaining momentum but with a slow pace.

 

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

85.10 86.1 -1.161 83.05 2.468

 


Comments: In the local market, Deutsche Mark lost around 0.70 Paisa against Pak Rs. The German trade surplus widened in February as growth in exports continued to outpace growth in imports. The German trade surplus amounted to 6.7 billion Euros in February, compared with a surplus of 2.66 billion Euros in January and a surplus of 5.47 billion Euros in February 1999. Germany exported goods worth a total 46.58 billion Euros in February, higher 10.8 per cent from the figure for February 1999.

 

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

25.675 26.35 -2.561 28.1 -8.629

 


Comments:  The Japanese Yen is to go towards the fast recovery as expected by the world financial leaders. But, the consistency of growth is yet to be obtained by the Japanese Yen. The Japanese growth is getting brighter with the rest of the Asian zone's recovery but the conversion of Yen in the international market has become a controversial factor.

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RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5025 .512 -1.855 .4305 16.724