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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Aug 18, 2001

Comments: In the domestic market, the Rupee showed a firm note in the trading against the Green back throughout the week. Much change in the value was not recorded as the activity in the market remained slim and major buying and selling did not take place that kept the trading price constant for the whole week. The Dollar also lost strength due to the severe losses that it had been suffering against its major rivals in the international market and thus the market closed giving the Rupee a firm note there in the kerb.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

67.025

67.025

nil

56.725

18.1577

.

.

Comments: In the kerb, the Pound Sterling remained strong against the Rupee as the currency showed a gain of Rs. 1.40 at the end of the week amid to strong trading sentiments of the currency against the US Dollar in the international market.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

96.3 95 1.3684 84.725 13.6618
.

.

Comments: The Rupee fell to all time lows against the German Mark this week as the currency kept the Rupee under tremendous stress and showed a gain of 0.80 Paisa in its price at the end of the week. The stronger Euro on the international trading desks influenced the kerb market too and thus the Rupee was unable to make any positive advancement against the currency this week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

31.225 30.8 1.3798 26.325 18.6134
.

.

Comments: In the domestic market, normal trading took place and any major change in the value of the Rupee against Yen was not recorded. In the international market, the Yen, up 1.5 per cent against the Dollar in the past week, fell after a Japanese official said a stronger currency wasn't appropriate and suggested policy-makers may act to weaken the Yen.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5515 .544 1.378 .519 6.2620