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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  May 12, 2001

Comments: In the open market, the Rupee lost grounds against the Green back this week. The Rupee that traded firmly against the Green failed to hold its firm standing and gave up the shine that it held for almost ten days. The demand of the US Dollar crept up this week as increased volume of the business was recorded. The individuals and the investors that were sidelines waiting to see the consequences and aftermath of the latest moves by the SBP came forward and thus the supply fell a little short to meet the market requirements.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

64.14

63.925

.3363

54.33

18.0563

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Comments: The Pound seemed to be struggling to trade against the Rupee as the currency in most of the sessions showed losses against the Rupee. The Rupee ended the week with a positive standing as the currency showed a gain in its value close of the markets.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

90.9 91.70 -.8724 82.8 9.7826
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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 0.10 Paisa against the Mark this week. In the international market, the Euro mostly remained under pressure as the ECB decided to lower down its interest rates.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

28.675 29.10 -1.4604 25.3 13.3399
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Comments: In the local market, Yen did not deviate much from its persisting trading score. However, in the international market, the US Dollar continued to show its strength over the Yen, as the weak economic prospects of the country did not support the currency to defend itself in the market.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5185 .5195 -.1924 .50 3.7