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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Aug 25, 2001

Comments: In the domestic market, the Rupee remained steady against the Green back for the second straight week and did not show any major change in its value till the close of the markets. This was the second consecutive week that the Green was traded at the same score and no change in it's price took place throughout the week. The demand of the currency remained bleak due to inactive role of the major buyers in the market. The Rupee thus closes the week with a firm note against the Green back here in the kerb.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

67.025

67.025

nil

57.075

17.433

 


Comments: In the open market, the Rupee remained slightly weak against the Pound as the Sterling gained in most of the sessions because of its active gains against the Green back in the international market. The Rupee ended the week showing a fall of 0.25 Paisa against the Pound.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

96.6 96.3 .311 84.35 14.522

 


Comments: In the open market, the German Mark followed last week's trend and remained firm against the Rupee. However at the end of the week, the Rupee showed a swift recovery and gained 0.10 Paisa against the currency amid to sharp fall in the value of Euro international after weak German economic report on Thursday.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

31.2 31.225 -.0800 26.425 18.070

 


Comments: In the national market, trading remained normal and the week prolonged without leaving any significant change in the value of Yen against the Rupee. In the international market, the Yen gained against the Euro on selling by local exporters and investors worried about the Euro's failure to gain despite speculation of a rate cut by the European Central Bank (ECB) next week. Yen also remained depressed against the US Dollar and Pound Sterling.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5535 .5515 .362 .5335 3.748