Comments by OWAIS S.
KALIA (Khanani & Kalia)
Updated on Oct 30, 2000
Comments:
The Rupee managed to prolong it's recovery against the greenback this
week too. Most of the time, the Pak Rupee held itself strong and
recovered considerable grounds against the Dollar. The major reason
for the Rupees strength is mainly the easy supply of Dollar in the
local market. The entry of export proceeds by the exporters and the
controlled demand of Dollar that prevailed last week persisted this
week too. The experts are positive and are of the view that if the
current condition of the market persists in the coming days, it would
ultimately support the Pak Rupee.
RUPEE/US DOLLAR |
This Week |
Last Week |
% Change |
Last Year |
% Change |
|
61.1
|
59.8
|
2.1739
|
54.39
|
12.336
|
Comments: In
the local market, the Rupee gained Rs. 1.80 against Pound this week.
The upward trend of the Pound mostly prevailed in the market. The
individuals again took interest in the currency due to the rising
trend but however normal pace of trading was recorded. In the
international market, the Pound rallied to 5 months high against the
Euro. The Dollar, Yen and Mark also lost some grounds against the
Pound. Although, the Pound underperformed the Dollar, but remained
within it's recent trading range.
RUPEE/POUND STERLING |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 88.9 |
87.1 |
2.0665 |
89.875 |
-1.0848 |
Comments:
The
Rupee gained 0.35 Paisa against Mark in this week trading. The
trading remained at normal pace and no major investment move was
taken. In the international market, the Mark remained vulnerable due
to the limping Euro that dipped to half cent of record lows against
the Dollars. The possibility of another intervention to support the
Euro may bear some impact on the Mark as well.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 26.2 |
25.9 |
1.1583 |
29.65 |
-11.6357 |
Comments:
In
the international market, the Yen reached record highs against Euro
and also gained Dollar and mark. Major activity was observed from
the Japanese exporters and also the selling of Yen against the
Dollar remained on peak. However, the option related offers
supported the Dollars to extend it's gains over Yen which soon wiped
off due to the knockout option orders. Also, Japan's embattled prime
minister Mr. Yoshiro Mori is expected to resign after his latest
verbal blunder.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| .5605 |
.5485 |
2.1877 |
.506 |
10.7707 |
