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FOREX KERB WATCH

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

Comments: In the open market, the rupee mostly dominated the green back in the trading sessions throughout the week. The rupee remained firm throughout and seldom gave any chance to the green back to come forward and recover its lost grounds on the trading desks. The currency also remained under the influence of the international scenario where it also had to face tough competition from its rivals after a weaker than expected jobs data signaling further weakness in the economy of the country. Overall, the rupee ended the week with strong footing against the green back this week.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

63.925

63.975

-0.0500

54.33

17.6053

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Comments: The rupee seemed to be struggling a bit to trade against the pound as the currency in most of the sessions kept an upper hand over the rupee. However, the rupee ended the week with slight improvement as the sterling showed a loss of 0.20 paisa at close of the markets. At the international front, pound showed a mix trend and moved both ways against the US dollar this week. However, the sterling ended the week with a positive note.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

91.70 91.90 -0.2176 84.3 8.7781
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Comments: In the kerb, the rupee kept mark under stress and showed rushing gains over the currency as against last week level. The rupee closed the sessions showing an uplift of 0.05 paisa against the mark this week. In the international market, the euro mostly kept US dollar under pressure and gained in most of the sessions as the American jobs data showed weaker than expected results that helped the euro to mark its gains in the trading.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.10 29.225 .4277 28.4 2.4647
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Comments: In the local market, yen did not deviate much from its persisting trading score. However, in the international market, yen gained against the US dollar amid to weak economic prospects of the US. However, these gains of the yen may prove temporary and the currency may see some losses in the coming days as the weak economic perspective of the US is surely going to hurt Japan as well which is supposed to be the largest exporters of its products to the US.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5195 .5095 1.9627 .4235 2.2668