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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Mar 05, 2001

Comments: In the local market, the Rupee made a little recovery against the Green in the trading sessions this week. The Rupee that had to encounter a very tough competition against the Dollar in the last weeks trading, managed to hold itself firm against the currency since the start of the current week. The Dollar although showed gains over the Rupee as well, but the market moved in such a direction that it also gave chanced to the Rupee for getting firm footing and to recover whenever possible. The trading pressure in the market showed a normal trend.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

62.9

62.95

-.079

54.225

15.988

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Comments: In the domestic market, the Rupee showed a mix trend against the Pound this week. The Rupee lost against the Sterling on the first three days of trading as the market overall remained tough for the currency to trade in. The Pound started the week by showing a rise in its value in the market against the Rupee. But in the later stages of the week, the Rupee demonstrated heavy gains against the Sterling in the trading sessions thus pulling the brakes at the rushing gains of the currency since the last few days. The Rupee ended the week by showing a gain of 0.05 Paisa against the Rupee.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

92.3 91.6 .764 86.3 6.952
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Comments: In the local market, the German Mark showed a mix trend against the Rupee, as the currency remained firm in the international market and thus traded under the supportive move in the kerb too. The trading moves were not very disappointing for both the currencies as in the last week, the Rupee and the Mark demonstrated a mix trend in the market and the two gained and lost throughout the week as a part of the normal trading trend. Mark was trading against the Rupee showing a net rise of 0.40 Paisa at the close of the markets and the week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

30.1 29.6 1.858 26.975 11.584
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Comments: In the international market, a mix trend of ups and downs was observed as the Dollar for most of the time kept the currency under pressure in the tradig desks. However, the Yen held near a two-week low against the Dollar and was headed for its first losing week in three as reports showed the Japanese economy is faltering. The Yen traded at 117.38 per Dollar, compared with the 117.40 Yen set in late New York trading yesterday. The Japanese currency fell 1.4 per cent this week. Against the Euro, it was little changed at 109.21 from 109.20 in New York

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5275 .541 -2.495 .505 4.455