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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Sep 18, 2000

Comments: In the domestic market, the Rupee managed to hold up the weekend level against the Dollar. The action in the market remained quite abstemious and mostly due to restrictions on the indulgent buying of the Dollar. The investors remained sidelines. Still and all, there are positive chances that the Rupee may further procure it's lost grounds as positive developments on the economic fronts are taking place.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

57.385

57.275

.1920

54.425

5.4386

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Comments: In the domestic market, the Rupee lost 0.40 Paisa against the British Pound at the close of the market. Increased trading of the Pound was espied as compared to last week.

In the international market, the Pound hit 14 year lows against the Dollar amid to record slots faced by Euro. The Pound is getting under pressure due to economic concentration between the British and Euro zone and squeezing in interest rate differentials between the two regions.

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 81.6 -.7352 88.375 -8.3451
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Comments: In the domestic market, the Rupee lost 0.20 Paisa at the end of the week. No noticeable changes were observed as normal trading of the currency took place.

In the international market, the Mark remained under pressure due to the consecutive weakness of Euro against the Dollar.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

25.3 25.475 -.6869 28.95 -12.6079
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Comments: In the international market, the Yen remained solid against the Dollar, Pound and Euro. The recent increase in the Japanese interest rates are now in full swing supported by the increase in the Japanese consumer demand and their statistics. However the down grade of Japan's Yen denominated government bonds by Moody's Investors Service Limited overwhelmed the upside of the Yen to some extent. 

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.535 .538 -.5576 .5065 5.6268