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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Mar 31, 2001

Comments: In the local market the Rupee showed a jumble trend against the Greenback this week too. The trading drift mostly remained side and the Rupee found itself under pressure against the currency most of the time. The Dollar started the week showing a gain of 0.10 Paisa as compared to Saturday's trading score. The Rupee that gained ample grounds against the Green in the last week lost its shine and dipped against the currency. The commencement of the new week brought an increase in the demand of the Green that made the Rupee to slack its grounds. The currency crossed the Rs. 64 barrier in the market.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

64.14

64.125

.233

54.2

18.339

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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 Pound started the week showing a gain of 0.20 Paisa against the Rupee on Monday as the Sterling kept an upper hand on the Rupee due to it's high demand on the current day. The Rupee lost its shine on the day and the trading took place with negligible changes throughout. Apart from the high demand, the Pound also took cues from the international trend as the currency gained some grounds against Dollar in the market.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

91.4 91.325 .082 86.75 5.360
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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. In the world market, the German Mark remained sluggish against the Dollar and Yen. Both the currencies marked their gains over the Mark as the currency did not deviate much from the same trend that has been persisting in the market for the last couple of months.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.1 29.2 -.342 26.75 3.745
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Comments: In the kerb, the Yen remained fragile against the Rupee and lost further values against it till late Thursday. The demand of the currency remained up but the currency was physically short of supply in most days of the current week. The Yen tumbled against the Dollar this week and continued with the same as the Japan's Economic and Fiscal Policy Minister Taro Aso suggested the U.S. would condone a weaker Yen, helping the currency deliver its first loss for a fiscal year since 1998. The Yen fell 1.9 per cent after Taro Aso told reporters there had been discussion within the U. S. government.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5085 .52 -2.211 .526 -3.326