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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Sep 11, 2000

Comments: In the domestic market, the Dollar fettered itself around the last week level most of the time. Ostensible fluctuations in the value was noticed and positive signs of recovery in the Rupee against the Greenback were beheld. The hectic demand of the Dollar got to the normal pace and no major buying and selling took place. According to the sources, the Rupee would remain quiescent around the prevailing value until no major decision or activity would take place.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

57.275

57.25

.0436

54.145

5.7807

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Comments: In the domestic market, the Rupee lost Rs. 2.50 against the Pound at the end of the week which is the highest downfall during the last six months. The increased demand of the Pound observed in the last week got normal and unruffled trading took place.

In the international market, the Pound recovered against Euro but dipped against the Dollar. The dealers have linked the weakness of the Pound with that of Euro versus Dollar.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

81.6 84.1 -2.9726 87.7 -6.9555
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Comments: In the domestic market, the Rupee lost Rs. 1.00 against the Mark at the close of the markets. The demand of the currency remained customary accompanied by the smooth supply of the currency in the market. In the international market, the Mark remained under pressure due to the declining Euro.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

25.475 26.475 -3.777 28.85 -11.6984
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Comments: The Yen failed to prolong with it's firm note against the Dollar and Pound. Both the currencies obstructed the respite taken by Yen in the last week. The rumors also surfaced that the Bank of Japan was ready to check it's rates on Euro against Yen. The Euro's continuous weakness against, the Dollar is putting enormous pressure on Japanese investors to hedge their debt which was acquired at much higher forex levels. Also, Japan's April-June GDP data is expected next week 

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.538 .539 -.1855 .4965 8.3585