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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Dec 25, 2000

Comments: The Rupee showed considerable gains this week against the green. The Rupee gained 0.12 Paisa in buying and selling against the green till the close of the markets. Actually, the demand of Rupee went on highs this week as most of the individuals showed their keen interest in selling their currencies due to arrival of Eid. Thus, selling pressure persisted in the market that resulted in creating strong demand of the Rupee. Also, the weakness of the Dollar at the international scenario supported the Rupee to hold itself strong against the Dollar that prolonged till the end of the week.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.7

60.815

-.1890

54.1885

12.016

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Comments: The Rupee showed positive recovery against the Pound this week after a big erosion last week. The Rupee gained 0.35 Paisa against the Sterling and the upward trend of the Rupee continued whole week mainly due to the demand of Rupee against the Sterling. In the international market, the Dollar lost it's shine against Pound as the economic indicators in England showed better perspective thus supporting the Pound to remain firm in the Trading sessions.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

89.5 89.8 -.334 87.9 1.8202
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Comments:  

The Rupee lost 0.70 Paisa against Mark in the trading this week. The rise of Euro against the Dollar this week helped the Mark to gain considerable grounds against the Rupee this week.

In the international market, the Euro remained firm against Dollar throughout this week thus helping all the linked currencies to hike against it including Mark. Also, the German economy is looking into a good shape which is a good sign for the currency as well.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

28.55 27.875 2.421 28.175 1.3309
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Comments: The Yen showed firmness against Dollar and Euro this week. However, it eroded sharply against Sterling and Swiss franc. The expectations of sluggishness are rising in the market with respect to Japanese economy thus giving Yen a bearish trend in it's trading. Also, the predictions regarding the Federal Reserve Monetary stance and cutting the interest rates affected Yen in it's trading in the international market.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.535 .5405 -1.0175 .5285 1.2298