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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Apr 14, 2001

Comments: In the local market, the Rupee made a handsome recovery against the Green in the initial trading sessions this week. The Rupee that had to encounter a very tough competition against the Dollar in the last week's trading, managed to hold itself firm against the currency and recovered remarkably both in the inter bank as well as the kerb market. The Dollar although showed gains over the Rupee in the later stages of the week as well, but the market moved in such a direction that it also gave chances to the Rupee for getting firm footing and to recover whenever possible.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

63.55

64.125

-.896

54.255

17.169

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Comments: In the domestic market, the Rupee showed a mix trend against the Pound this week. In the domestic market, 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 as Sterling showed firmness against the Green in the world market but recovered well at the end and posted smart recovery. The Rupee closed showing a gain of 0.75 Paisa over Pound as compared to last week. In the internationl market, Pound showed a jumble trend as it recorded both ups and downs in the trading but closed the week with a sluggish note against the US Dollar.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

91.4 91.9 -.544 86.4 5.787
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Comments: In the local market, the German Mark showed a down trend against the Rupee this week as the currency remained under pressure in the international market and thus traded under the pressurized move in the kerb too. The activity in the market was normal and no unusual course of action was recorded as the German Mark ended the week showing a loss of 0.50 Paisa against the Rupee at the close of the markets on Saturday. In the international market, the Euro lost against the Dollar as the ECB decided to keep its key interest rates unchanged thus hurting the currency. However, economic indicators of Germany showed some positive results that helped the Euro a little in the trading.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.1 29.5 -1.355 26.7 8.988
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Comments: The Yen remained a little changed in the kerb affected by the international movements of the currency. However, at the international scenario, Yen weakened further against the US Dollar this week despite of the fact that the currency showed some gains as week after the Japanese government said the nation's economic recovery is faltering and there is very weak perspective for the currency to gain for long term as the nations political and economic sectors are in desperate conditions.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.508 .513 -.974 .511 -.587