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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  May 26, 2001

Comments: In the open market, the Rupee showed a mix trend of rise and fall against the Green back this week. The Rupee suffered record losses against the US Dollar when the currency crossed Rs. 65/00 barrier for the first time in the history of its trading. However, in the later stages of the week the Rupee managed to make a come back as slight improvement in its value was recorded and thus ended the week with a positive note. High demand of the Green from the corporate clients, speculative buying from the individuals urged the Rupee to loose grounds and was hurt badly due to the restricted supply of the currency in the market.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

64.825

64.14

1.0679

54.375

19.218

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Comments: In the open market, the Rupee lost some grounds in the initial stages of the week against the Pound but some improvement in the value of the Pound was also recorded in the later stages of the week. The Rupee ended the week showing no change in its value as compared to last week's trading score.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

91.55 90.9 1.7051 81.5 12.3312
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Comments: In the kerb, the German Mark had to face tough competition from the Rupee as significant gain in the value of the Rupee was recorded on the trading desks. The Mark ended the week showing a net loss of 0.40 Paisa against the Rupee.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

28.35 28.675 -1.1333 25.025 13.2867
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Comments: No major change in the value of the Rupee against the Yen was recorded this week too. In the international market, Japan's currency rose against most other major currencies as its record surge against the Euro-triggered demand to buy Yen. The currency, for most of the time remained firm against the Dollar and Euro.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5335 .5185 2.8929 .509 4.8133