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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Apr 21, 2001

Comments: In the open market, the Rupee showed a mix trend of highs and lows against the Green back this week. The trading trend remained sluggish and the hectic demand of the Green that was prevailing in the market in the last couple of days, to some extent got under some degree of control. The supply of the Green back in the market remained at a normal level. The Rupee also managed to post recovery against the Dollar and at the end of the week showed uplift in its value to end the sessions with a positive note.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

63.95

63.55

.629

54.3

17.771

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Comments: In the local market the Rupee lost some value against Pound this week as the currency gained some grounds against the US Dollar in the international market. The demand of Sterling was a bit high as compared to its supply and thus made the Rupee to loose against it. The Pound ended the week showing a gain of 0.30 Paisa in the market versus Rupee.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

91.7 91.4 .328 86.1 6.504
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Comments: In the kerb, Rupee managed to gain against the German Mark mainly taking cues from the international losses of the Euro against the Green back. In the sessions, Rupee mostly kept an upper hand against Mark and routine fluctuations in the value were recorded. Rupee ended the week showing negative drift of 0.20 Paisa at the end of the week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.2 29.1 .343 26.35 10.815
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Comments: In the local market, Rupee gained against Yen and the trading moves remained normal throughout the week. In the international market, the Yen rallied to its two week highs against the US Dollar this week but lost the shine at the close of the markets at the end as the US Dollar made a smart recovery mainly due to investors confidence buildup after the interest rate cut by Fed.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.517 .508 1.77 .512 .976