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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Jun 19, 2000

Comments: The declining trend kept on persisting in inter-bank market as the Pak Rs lost 3 Paisa against the U.S. Dollar. To keep Pak Rupee firm, this is an unavoidable truth that we have to look for more and more export boosting measures. The six-point exports strategy announced by the government of Pakistan needs to be fully supported by the manufacturing sector, exporters, traders and business community.

 

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

54.875 54.675 .3657 53.11 3.323

 


Comments: In the local market, the British Pound gained around 0.30 Paisa against Pak Rs. British unemployment fell by 8,600 last month to a new 20-year low of 1.109 million people, leaving the jobless rate unchanged at 3.9 per cent of the active population, official figures showed on Wednesday. The fall was far stronger than expected, with the majority of analysts having forecast a decline of 10,000 people on the jobless register.

 

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

83.1 83 .1204 88.925 -6.5504

 


Comments: In the local market, the German Mark gained around 0.35 Paisa against Pak Rs. German consumer price inflation slowed further in May as a decline in the price of food and electricity helped offset continuing rises in oil prices, official data showed on Wednesday. Final inflation data published by the federal statistics office showed that the German Consumer Price Index (CPI) slipped by 0.1 per cent in May from the figure for April and was just 1.4 per cent higher than it had been in May 1999.

 

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

26.625 26.625 Nill 29. -10.0506

 


Comments: Figures released last Friday showed Japan's economy grew just 0.5 per cent in the past years it had grown over the whole fiscal year. Ultra-lax monetary policy and spending from the government's latest stimulus package in November would underpin the modest economic recovery, the bank of Japan said in it's report. The Bank's 16-month-old "Zero-rate" monetary policy, though an aberation, would atay for now, the governor told a news conference.

 

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.508 .507 .1972 .4665 8.896