Updated on May 22, 2000
Comments by OWAIS
S. KALIA (Khanani & Kalia)
Comments: In the international market, the U.S. Dollar
kept on up-down fluctuation against Japanese Yen. The all time booming economy of America.
During this decade, has again shown the supremacy in information technology (IT) as the
work and the collection of the best brains of it are planned to be gathered in America
with an initial offer of 300,000 visas for the it professionals. In the local market of
Pakistan, the U.S. Dollar registered petty gains against Pak Rs.
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 1.10 against Pak Rs. The UK's inflation has
registered a fall of below 1.5 per cent, inflation has now been below its target for
13-month in a row, as fierce competition on Britain's high streets, plus the government's
onslaught against "RIP of Britain" have combined to drive price down. The
increased use of Cyber shopping has also played its part, with a whole host of service
ranging from insurance to selling houses now available on web.
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 0.30 Paisa against Pak Rs. The German tax revenues for 2000 are expected to be
about nine to 10 billion marks more than expected because of stronger-than-expected
economic growth. Some independent economists are forecasting that the added 2000 revenues
could be between three and 17 billion marks above the last forecast for 2000 made in
November. Tax experts also of the view that as a General rule one added per centage point
of growth brings about one per cent more tax.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 25.675 |
26.35 |
-2.561 |
28.1 |
-8.629 |
Comments:
In
the beginning of this week, the Yen rose against the U.S. Dollar in Asian trade on Tuesday
after governor masaru hayami indicated the prospect of an end to the bank of Japan's
"Zero-rate" monetary policy. Japanese banks reacted positively to his comments
and drove the Yen up to the 108 level because they took it to mean the bank of Japan bank
of Japan would lift the zero-rate policy in future. The firmeness of the Japanese Yen came
down somehow later this week, against U.S. dollar, but no major losses were registered.
.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| .5025 |
.512 |
-1.855 |
.4305 |
16.724 |
