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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  June 16, 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 losses against the US Dollar when the currency crossed Rs. 66/00 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. Some remedial moves taken by the SBP to support the Rupee helped it to gain some grounds both in the open as well as the interbank market.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

66.35

66.25

.1509

54.775

21.1319

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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 a loss of 0.80 Paisa in its value as compared to last week's trading score.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

92.1 91.1 1.0976 82.6 11.5012
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Comments: In the kerb, the Rupee had to face tough competition from the Mark as significant gain in the value of the currency was recorded on the trading desks. The Mark ended the week showing a net gain of 0.40 Paisa against the Rupee.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

28.9 28.5 1.4035 26.875 7.5348
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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, Yen lost its tempo of trading at positive note against the US Dollar. The Yen took its biggest tumble in two-and-a-half months on expectations a retooling of FTSE International Ltd's global stock indexes will prompt some investors to sell Japanese shares.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5345 .5355 -.1867 .51 4.8039