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
|
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 |
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 |
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 |
