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FOREX KERB WATCH

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

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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
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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
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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