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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Sep 01, 2001

Comments: In the open market, the Rupee prolonged with its firm footing against the Green back and showed more gains for the third consecutive week. The inactive participation in the market from the major buyers kept the sentiments of the trading under control and the Rupee missed no chance to recover under the prevailing conditions. Only minor fluctuation was recorded in the daily trading and thus the Rupee ended the week showing 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

57.25

17.074

 


Comments: The Rupee remained under pressure against the Pound Sterling and the Sterling showed active gains against the national currency this week too. The Pound continued with its strong note against the Rupee amid to significant gains of the currency against the US Dollar and Euro in the world currency market and ended the week showing an uplift of 0.70 Paisa as compared to last week ending score here in the kerb.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

97.3 96.6 .724 84.1 15.695

 


Comments: The trading between the Rupee and German Mark remained on a normal pace as major fluctuation in the values of the currencies was not recorded this week. The trading pattern remained normal and the week ended giving the Rupee a gain of 0.50 Paisa in the kerb. Buying and selling of the Mark took place in normal volumes and the market closed without showing any major change whatsoever.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

31.15 31.2 -.160 26.475 17.658

 


Comments: In the local market, trading remained normal and any major change in the values of both the currencies did not take place. Throughout the week, the trading continued. In the International market, Yen remained weak against most of its rivals however it hit three-month highs against the US Dollar as concern about the health of the US economy mounted after the Thursday's slide on Wall Street.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5575 .5535 .722 .539 3.432