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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  June 02, 2001

Comments: In the local market, the Rupee against the Green back remained under tremendous stress on the trading desks this week. The national currency that recovered some value in the ending sessions last week, lost all the potential and thus lost further grounds to finish the week's trading with a negative note. The Rupee never found a way to escape from the losses and thus depreciated its value in the trading competition at the close of the markets.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

66.15

64.825

2.043

54.675

20.987

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Comments: In the domestic market, the Rupee lost against the Sterling as the currency kept the Rupee under pressure due to record depreciation of the Rupee against the Green back. The Rupee ended the week showing a loss of Rs. 1/00 against the Pound here in the kerb.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

92.6 91.55 1.1469 83 11.566
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Comments: Rupee traded with a negative note against the German Mark this week as the currency got cues from the strength of the Euro in the international market and thus traded the same way here in the kerb. Rupee ended the week showing a loss of 0.30 against the Mark at the end of the week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

28.4 28.35 .1763 26.625 6.666
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Comments: In the local market, Yen gained slight grounds against the Rupee this week. In the international market, Yen remained strong against US Dollar and Euro for most time of the week as the market speculated of selling Yen for Euros in the coming days of trading. Also the rise of Japanese stocks supported the currency on the trading desks this week.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5415 .5335 1.4995 .507 6.8047