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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Aug 14, 2000

Comments: In the domestic market, the Rupee started the week with a downward trend showing a fall of 5 Paisa  for buying and selling respectively. Moreover, the Rupee crossed the Rs. 56 barrier and lost further value against the Greenback due to the absence of adequate inflow of the Dollar to meet the requirements of the general public. Also this week the Rupee remained under pressure due to the rise of speculative buying in the market to gain higher profits by the public

 

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

56.25 55.845 .7252 54.025 4.1184

 


Comments: In the domestic market, the Rupee gained 0.15 Paisa against Pound at the end of the week. The firmness of the Pound against the Dollar continued to show its impact in the domestic market. In the international market, the Pound Sterling stood strong against the Greenback and Yen but subdued against the Euro.

 

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

84.3 84.1 .2378 87.1 -3.2146

 


Comments: In the domestic market, the Rupee did not show any change in its value against the Mark and remained steady around Rs. 26 in the market equal to the last week level. In the international market, the Mark remained firm in its prevailing rate against the Dollar, Pound and Euro. The acquisition of Germany's Mannesmann ag for 101.2 billion Pounds by a British company named Vodafone Group plc was marked as important news for the economy

 

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

26.225 26.1 4.789 29.525 -11.1769

 


Comments: In the international market the Yen remained under pressure against the Dollar, Pound and Euro as the dispute between the Government and Central Bank over Japanese interest rates broke into an open conflict. Also, the Bank of Japan hiked it's interest rate to 0.25% as an attempt for the economic recovery after the collapse of department store chain Sogo last month.

 

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5135 .505 1.6831 .469 9.4882