Comments by OWAIS S.
KALIA (Khanani & Kalia)
Updated on Aug 07, 2000
Comments:
The Rupee started the week with a positive note by gaining 8 Paisa in relation to the
Dollar compared to the last week's level as the supply of the Dollar in the market
remained constant to meet the requirements and no major buying was observed. However in
the later days, the Rupee failed to restore it's upgraded value and fell down due to the
tight supply of the Greenback, non surrenderence of the export proceeds by the exporters
and the growing demand of Dollar in the market. This trend continued till the end of the
week.
RUPEE/US DOLLAR |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 55.845 |
55.76 |
.1524 |
53.925 |
3.5605 |
Comments: In the domestic market the Rupee gained
30 Paisa at the end of the week as compared to 10 Paisa gain in the last week. The experts
said that the firmness of the Pound against the Dollar has shown it's impact in the
domestic market. In the international market the Sterling showed a mix trend of ups and
downs against the Dollar. The Pound recouped it's continuous losses against the Dollar
after the publication of a report which revealed that the national association of
purchasing management's index remained steady at 51.8
RUPEE/POUND STERLING |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 84.1 |
83.8 |
.3579 |
86.8 |
-3.1105 |
Comments: In the domestic market the Rupee lost
0.25 Paisa against the German Mark. Much movement was not recorded either in the
international market. But the experts said that the continuous decline of Euro against
Dollar may further weaken the Mark and the Dollar would be more favoured due to the flow
of the foreign direct investments.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 26.1 |
26.325 |
-.8547 |
29.65 |
-11.9730 |
Comments:The
week showed some firmness in Yen after the bears gave up as they failed to drive the
currency to down levels. The Yen gained against the Dollar, Euro and Australian dollar
sharply. The US Dollar however resisted in between but strong combinations of Japanese
export offers, Asian and US banks defending options supported the Yen. The experts are
predicting this trend as a break to the currency's long term down trend.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| .505 |
.505 |
NIL |
.469 |
7.6759 |
