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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Jan 15, 2001

Comments: The Rupee remained firm against the Dollar this week and showed sturdy position in the week's trading throughout. At close of the week, the Dollar was traded at Rs. 61.23 for buying and Rs. 61.28 for selling respectively. The Rupee showed a gain of 0.05 Paisa in both the modes of trading. The demand of the Dollar in the market remained at customary levels and no spontaneous activity in the market prevailed.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

61.25

61.075

.2865

54

13.4259

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Comments: In the domestic market, the Rupee showed a trend of rise and fall as the currency remained under the control of it's international trading trend. The Rupee gained Rs. 1.20 against the Pound at the close of the week. The demand of the currency remained on highs as the individuals showed their interest in selling thus creating an increase in the supply of the Pound till the end of the week.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

90.85 91.76 -.9917 88.1 3.1214
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Comments: The Mark lost it's shine against the Rupee in the trading this week as the Euro remained under pressure in the international market. The Rupee advanced substantial grounds against the Mark and recorded a gain of 0.05 Paisa at the end of the week. In the international market, the Mark got strong on the last two days of the week as the currency gained as the European Union also decided to keep their interest rates unchanged. This move ultimately helped the Mark to end the week's trading with a firm footing.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.9 29.80 .3355 27.45 8.9253
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Comments: In the international market, the Yen lingered under compulsion against all it's major rivals. The Yen lost against Dollar, Pound and Euro. The ever high losses in the Japanese stocks this week made the currency to go on a defensive move as the investors showed their deep concerns over the deteoriating conditions of the Japanese economy. These serious concerns may bring Yen into further pressure in the coming days as the investors are not coming ahead to take any major step in the currency.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5165 .5235 -1.3371 .508 1.6732