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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Mar 26, 2001

Comments: In the local market the Rupee showed a jumble trend against the Greenback this week. The trading drift mostly remained side and the Rupee found itself under pressure against the currency most of the time the currency crossed the Rs. 64 barrier in the market for the third time in the last three months of trading. The massive increase in the buying of the Greenback in the kerb made the US Dollar to rise to Rs. 64 in open market on Wednesday as the Rupee continued its slide against Greenback in inter-bank market too.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

64.125

63.196

1.4700

54.18

18.355

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Comments: The Pound Sterling demonstrated a mix trend against the Rupee this week as it has been showing the same for the last couple of months. The Rupee lost its shine against the currency but the trading took place with negligible changes throughout. The Pound ended the week showing a gain of 0.10 Paisa against the Rupee at the close of the markets.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

91.325 91 .357 86.7 5.334
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Comments: The German Mark seem to support the Rupee and proved to be a good trading companion for the currency as the trading moves were not very disappointing for both the currencies. 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. The Rupee ended the trading showing a loss of 0.10 at the end of the week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.2 29.125 .2575 27.2 7.352
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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 trading desks. On Wednesday, the Yen shed an initial gain against the Dollar on concern government efforts to help banks won't be enough to keep Japan from slipping into recession. They Yen rose for the first time in three days against the Dollar after Japan's Prime Minister Yoshiro Mori said Japan would not weaken its currency to promote exports.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.52 .5135 1.2658 .506 2.766