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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Nov 13, 2000

Comments: In the domestic market, the Rupee remained firm against the greenback and showed significant gains at the end of the week. The trading in the Dollar remained at normal pace and most of the time, steadier trend prevailed in the kerb. The demand of the currency seemed to be normal as most of the investors remained sidelines making the supply of the Dollar adequate enough to meet the required demand in the market. Most of the experts are of the view that the coming days may show a further strength of the Rupee against the Dollar as some positive signs of increased domestic product and exports are emerging which will obviously help the Rupee to further gain it's lost grounds against the greenback.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

61.175

61.275

-.163

54.225

12.816

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Comments: In the domestic market the Rupee lost Rs. 1.50 against the Pound at the end of the week. Mostly the investors took a vigilant move against the Pound keeping in view of it's dilapidated value in the home market. In the international market the Pound showed fusion trends against all the currencies this week. It gained some highs against the Dollar and Euro but also lost against them at the later stages.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

87.6 88.9 -1.462 87.875 -.312
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Comments: In the domestic market, the Rupee lost 0.10 Paisa against the Mark at the close of the markets. The activity in the currency remained normal and no significant changes were recorded. In the international market, the Mark got adequate support from the intervention by the European banks to help the limping Euro. But however, the Mark remained on normal trading levels and is expecting to gain some further grounds if the Euro rises further.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

27.075 27.15 -.276 28.85 -6.152
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Comments: In the international market, the Yen moved in narrow ranges against the Euro, Pound and Dollar. The Dollar remained firm and the Pound showed a continuous rise and fall against the Yen throughout the week. Moreover the Japanese investors are showing their immense concerns over the US Presidential elections as according to them the upcoming policies of the future president is certainly going to have a significant bearing on the business in the coming days.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.566 .57 -.701 .514 10.116