. .



FOREX KERB WATCH

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

Comments: After the devastating attacks on WTC on Tuesday, the US Dollar lost significant grounds against the Pak Rupee and failed to resist in the market. The Rupee gained 0.60 Paisa on Tuesday and remained stiff against the Green back till Thursday. However, as the financial markets resumed their normal activities, the Green came up again and recovered the lost grounds of the desks. The gains of the Rupee proved to be short lived.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

67.075

66.97

0.1567

57.385

16.885

 


Comments: The Rupee continued to trade under tremendous pressure against the Sterling and depreciated more against the currency till the end of the week. The weakness of the US Dollar in the International market against the Pound affected the kerb market as well and the Rupee ended the week showing a fall of Rs.3.70 which is supposed to be one of the highest lows suffered by the Rupee in a week.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

97.5 97.8 -.3067 81 20.370

 


Comments: This week, the mass destruction in the USA gave a cue to the major International currencies to come up against the US currency and thus the Euro also showed solid strength that helped the German Mark to show gains against the Pak Rupee here in the KERB as well. The Rupee lost against the Mark in the dealings and ended the week showing a net loss of Rs. 1.85 as compared to last week's ending score.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

31.375 31.05 1.0466 25.3 24.011

 


Comments: In the open market, Yen showed a mild advancement against the Pak Rupee and mere gain in its value was recorded in the domestic market. The Yen also showed gains against the US Dollar. However, these gains were eroded by the Green which held itself firm in the Asian markets helping to balance its losses on the European desks.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.566 .555 1.981 .535 5.794