Comments by OWAIS S.
KALIA (Khanani & Kalia)
Updated on Oct 23, 2000
Comments:
In the domestic market, the Rupee showed strong footing against the
greenback. This week it gained heavy ground in the trading. According
to the experts the substantial increase in the exports proceeds by the
exporters and massive selling of the funds by the individual have
resulted in an easy supply of Dollars in the market that supported the
limping Rupee to hold itself to a great extent. The Rupee gained more
than one Rupee which in favour a positive sign for the Pakistan's
economy.
RUPEE/US DOLLAR |
This Week |
Last Week |
% Change |
Last Year |
% Change |
|
59.8
|
61.725
|
-3.118
|
54.39
|
9.946
|
Comments: In
the domestic market the Rupee lost Rs. 3.5 against the Pound at the
end of the week. Mostly selling trend by the individual persisted this
week. However, normal trading took place. In the international market
the Pound stood strong against the Euro but lost further grooved
against the Dollar. The non supportive remarks by the European central
bank president against the British economy undermined the currency but
the casing oil price possible intervention and the expected release of
the economics data including labour market statistics however kept the
investor on their toes.
RUPEE/POUND STERLING |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 87.1 |
89.6 |
-2.790 |
89.875 |
-3.087 |
Comments:
In
the domestic market the Rupees lost Rs. 1.5 against Mark this week.
The trade continued the whole week. Standing of the currency
remained at normal pace and no major move by the investors was
observed. In the international market the Mark suffered due to the
declining Euro. Since the single currency has lost much of it is
shine and is just breathing tightly near an immediate impact on all
the currencies linked with it including the German Mark.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 25.9 |
27.1 |
-4.428 |
29.65 |
-12.647 |
Comments:
The
Yen suffered from a steep rise against the Australian Dollars and
Euro but lost some ground against Dollar as it came under pressure
after the Tokyo stock market's Nikkei average dropped more than 3%
on Wednesday late. The Japanese Finance Minister said that they are
closely watching the sliding Euro and the observe of any news from
the Euro zone may create an opportunity for possible intervention by
the banks.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| .5485 |
.5679 |
-3.416 |
.506 |
8.399 |
