Comments by OWAIS S.
KALIA (Khanani & Kalia)
Updated on Jun 26, 2000
Comments:
This week remained a very uncertain period for Pak Rs. as the fluctuations and the
declining trend finally made Pak Rs to face a fall against greenback. The uncertainty made
the investors and traders in panic and the imbalances in demand and supply of the U.S.
Dollar occurred. In the international market, the U.S. Dollar has also been under pressure
against the Japanese Yen after the fears that the Bank of Japan could intervene to reign
in the currency's advance.
RUPEE/US DOLLAR |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 54.775 |
54.875 |
-.182 |
53.38 |
2.613 |
Comments: In the local market, the British Pound
lost around 0.35 against Pak Rs. Britain's trade deficit with the rest of the world
widened to 2.52 billion Pounds in April from a revised deficit of 1.938 billion Pounds in
March. The trade gap was slightly narrower than the economists had predicted. The market
median forecast was for the trade deficit to be 2.6 billion Pounds in April. The British
economy has been in the hot-waters for last three years but now the other economical
indicators are getting highly brighter.
RUPEE/POUND STERLING |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 82.6 |
83.1 |
-.601 |
87.925 |
-6.056 |
Comments: In the local market, Deutsche Mark lost
around 0.65 Paisa against Pak Rs. The German economy is under tremendous pressure because
of the unemployment and the rising discord issues among the 11-Euro states since the
re-unification of the Eastern and the Western Germany and the fast emerging gape of
classes. As Germany is the key factor in and supporter in imposing Euro, the
responsibility lies on the German government to justify the efforts of the past
government.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 26.875 |
26.625 |
.938 |
29.35 |
-8.432 |
Comments: Major
banks in Japan are feeling the pinch again as the rising corporate bankruptcies and the
prospect of the country's first rate hike in a decade threaten to puncture a recent
earning rebound. A rapid rise in bankruptcies is expected to force banks to take more
loan-loss charges, raising the possibilities that the bad-debt problem will come back to
hault them. The likely rise in the interest rates as the economy emerges from years of
recessions would also squeeze their lending margins.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| .51 |
.508 |
.393 |
.4565 |
11.719 |
