Updated on Jun 05, 2000
Comments by OWAIS
S. KALIA (Khanani & Kalia)
Comments:
The State Bank of Pakistan has allowed 20-Paisa of Rupee depreciation against U.S. Dollar
in inter-bank market. The likewise trend was also started to be prevailed in the Kerb
improved slightly against U.S. Dollar after the better supply and the news that the State
Bank of Pakistan has pumped-in US $=20-25 million into inter-bank market. The
international market is also not in very well support of the U.S. dollar as the recovery
in both Euro and Asian region has started.
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 gained around 1.20 against Pak Rs. Makeovers in the
British retail sector hit a record 8.6 billion pound ( $ 12.69 billion) in 1999 but
evidence going back two decades suggests most of them will fail, according to the
consultancy retail intelligence. Wal-mart stores inc's 6.7 billion Pound acquisition of
asad was the main reason for the last year's 43 per cent surge in the value of deals.
Retail intelligence found the process of concentration in the sector was continuing with
the top companies controlling an ever greater share of sales.
.
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
gained around 0.50 Paisa against Pak Rs. A positive trend in the German Economy, the most
important in the Euro Zone, was sustained in the first quarter of 2000, which saw growth
0.7 per cent over the last quarter of 1999. The quarter-to-quarter rate was unchanged, but
corresponds to a 3.3 per cent annual growth when compared to the first quarter of 1999.
This makes it the strongest growth rate figure since the first quarter of 1998.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 25.675 |
26.35 |
-2.561 |
28.1 |
-8.629 |
Comments: The
Japanese government doing all the efforts to regain the leading financial position of the
by-gone days. Japan this week, relaxed rules which had prevented large retailers from
opening stores near mom-and -pop shops, but replace them with stricter environmental
checks. Economists said, the decision to scrape the large-scale retail store law had led
to a flurry of construction activity as retailers have taken advantage of a six-month
transition period before the new environmental rules take effects.
.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| .5025 |
.512 |
-1.855 |
.4305 |
16.724 |
