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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Sep 04, 2000

Comments: In the domestic market, the Rupee showed a mix drift of rise and fall in it's value against the Greenback. In the first few days the Rupee lost some grounds due to spacious demand of the Dollar connected with the frantic demand of the Haj drafts. However at the end of the week the Rupee gained some grounds and sound recovery took place as a result of the major steps taken by the economic managers to stop the continuous decline in the value of Rupee versus the Dollar.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

57.25

57.075

.3118

54.175

5.6760

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Comments: In the domestic market, increased trading of Pound was espied along with an increase in it's value due to an increase in the value of the Dollar. At the end of the week, the Rupee was recorded to loose 0.25 Paisa against the Pound.

In the international market, the Pound failed to recover it's lost grounds against the Dollar, Yen and Euro as the descending trend persisted this week too. According to the analysts, the British economy is marching towards decreased domestic demand which is hampering the Sterling to cover up it's losses against the Greenback.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

84.1 84.35 -.2963 87.1 -3.444
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Comments: In the domestic market, the Rupee gained 0.05 Paisa against the German Mark. Normal trading of the currency took place and no major activity was observed.

In the international market, the German Mark got support from the rising Euro against Pound. Moreover, the positive signs of the German economy confessing an increase in the gross domestic product also supported the Mark. The gross domestic data showed that the German GDP has grown to 1.1% boosted by the strong consumption and foreign trade.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

26.475 26.425 .1892 29.625 -10.6329
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Comments: In the international market, the Yen continued to show it's recovery after the timely intervention by the Bank of Japan to invigorate the economy and the currency. The experts carefully inspected the forex market and were looking forward to take some serious steps to further improvise the Yen. Also, a rise in the Nikkei stocks in Tokyo, upbeat production and major investments are showing positive signs to be added to the Japan's economic recovery story. 

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.539 .5335 1.0309 .492 9.5528