Comments by OWAIS S.
KALIA (Khanani & Kalia)
Updated on Jul 31, 2000
Comments:
In the domestic market, the Rupee did not show much movement on the first two days of the
week and sustained its last week level. But the continuous rise in the inter bank rate
uplifted the open market value of the Dollar as well as it crept up to around 55.80
selling and 55.72 buying. The experts predicted that an increase in the activities of the
exporters and the involvement of the importers to hedge their forward transactions are
causing noticeable fluctuations and the Rupee is finding it difficult to stabilize its
value against the Dollar. Also, the supply of the greenback is fairly short of its growing
demand that is keeping the Pak Rupee under pressure, which continued till the closing of
the week.
RUPEE/US DOLLAR |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 55.3 |
54.895 |
.7377 |
53.875 |
2.6450 |
Comments: In the local market, the Pak Rupee
showed it's strength as the Rupee gained 10 Paisa against the Pound Sterling at the end of
the week. In the international market, the Pound pulled back a little after the
publication of an industrial trend report released by the confederation of the British
industry. A statement given by a member of Bank of England's monetary policy also hit the
sterling as he said that the Pound was "unrealistically high" in the market.
However the Pound remained strong against Euro and Yen as it took it's cue here on
closing.
RUPEE/POUND STERLING |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 83.6 |
82.6 |
1.210 |
85.1 |
-1.762 |
Comments: In the domestic market, the Pak. Rupee
lost around 5 Paisa against the German Mark. The Mark again remained silent throughout the
week as it did not show any big movement in the international market. The experts analyzed
that the acquisition of the US mobile phone group Voice Stream Wireless Corp., and the
proceeds from the bond sales are going to affect the Mark and is going to make a
considerable impact. The experts further added that this may weaken the German Mark
further and the foreign direct investments flow would almost favour the Dollar.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 26.4 |
26.425 |
-094 |
29.025 |
-9.043 |
Comments: In
the international market the Yen remained weak against the Dollar. However the last day of
the week showed some improvements in its value. The weak stocks helped the Dollar to keep
strong grip on the Yen. The chances of growth and economic recovery of the world's second
largest economy still is a question mark for the experts and economists. The Bank of Japan
is also expected to end it's zero rate policy in August. However the experts are showing
their serious concerns over the falling Nikkei stocks, declining retail sales and major
bankruptcies in Japan.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| .504 |
.507 |
-591 |
.46 |
9.565 |
