Comments by OWAIS S.
KALIA (Khanani & Kalia)
Updated on Dec 04, 2000
Comments:
In the domestic market, the Rupee gained heavy grounds against the
Dollar this week and continuously showed a positive trend of strength
over the green. The approval of the debt installment of $600 million
by the IMF here on Wednesday created it's positive impact on the
market and helped the Rupee to hold itself firm and is likely to gain
more grounds in the coming days. In the international market, the
Dollar seemed to be suffering this week as the slowing US growth rate,
steep losses on the Wall Street and the absence of any positive news
on the Presidential elections.
RUPEE/US DOLLAR |
This Week |
Last Week |
% Change |
Last Year |
% Change |
|
60.625
|
61.055
|
.1640
|
54.31
|
12.326
|
Comments: In
the local market, the Rupee gained Rs. 1.90 against the Pound at the
end of the week. The Pound lost heavily in the first four days but
demonstrated it's sound recovery as the Pound gained against the
Dollar in the international markets on Friday and Saturday. The
investors showed a mix trend of trading in the currency and mostly,
the trading remained at it's normal pace.
In the international market, earlier this week,
Pound lost it's two week highs against the green as the profit taking
emerged in the late European trade.
RUPEE/POUND STERLING |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 87.5 |
85.6 |
-1.722 |
87.15 |
-2.283 |
Comments:
In
the domestic market, the Rupee gained Rs. 1.00 against the Mark at
the close of the markets. The Mark showed a rise in the later days
of the week amid to positive recovery of Euro against the Dollar in
the international market. The demand of the currency also went on
rise after this change.
In the international market, the heavy buying of
Euro by the European Investors supported the Mark to recover it's
lost shine against the green and the other currencies as well. This
trend continued in the market till the end of the week and the
currency showed sound recovery against Yen, Pound and Dollar.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 27.275 |
26.3
|
-1.127 |
28 |
-7.231 |
Comments:
In
the international market, the Yen faced tough time as it fell to 15
months lows against the Dollar and three-month lows against the
Euro. The Yen is suffering at it's economic and political fronts for
the last couple of months especially after the loss of confidence by
the Japanese government both in public and business circles. The
data released on Friday espied that the Japanese consumer prices
have fallen at a record pace in the last three months accompanied
with a fall in the household spending and growing unemployment rate.
Moreover the investors sold Yen against the Dollar thus making it
further weak at the international level.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| .544 |
.5475 |
-1.881 |
.528 |
2.816 |
