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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Dec 18, 2000

Comments: The Rupee displayed a mix behaviour of ups and downs against the green back this week. At the start of the week, it stood firm but consequently lost it's shine in the later stages of the week. Mainly, the increase in the value of the Dollar in the international market, increase in the inter bank rate due to heavy buying of green by the State Bank stood as some major reasons of the down fall of the Rupee. The Rupee recovered some grounds at the close of the week.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.815

60.745

.1152

54.35

11.895

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Comments: In the domestic market, the Rupee lost Rs. 1.55 against the Sterling at the end of the week. The Pound followed it's international gaining trend and kept the Rupee under immense pressure through-out this week. The trading of the currency also went on rise as the individuals showed their keen interest specially in selling the currency. In the international market, the Pound hit six-week highs against the Dollar and Euro.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

89.8 87.7 2.394 87.8 2.3917
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Comments: In the local market, the Rupee lost Rs. 1.20 against the Mark at the close of the markets. The currency remained firm in the trading sessions but no unusual move was recorded in the market. In the international market, the Mark lost some of it's shine as the Euro failed to hold itself firm against the green after the final declaration of the US presidential elections. The Dollar got support from Supreme Court decision while the Euro and all the other currencies linked with it including the Mark went under pressure.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

27.875 27.7 .6317 28.325 -1.5887
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Comments: In the international market, the Yen remained under severe pressure as the Dollar gained 16 month highs against it on Thursday. The release of the Japanese Tanken data revealed slightly worse statistics than the economists expected as Japanese economic indicators are in a disappointing phase and the political turmoil made the market doubt that policy makers could respond in any meaning-ful way.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5405 .547 -1.1882 .5265 2.6590