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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Sep 29, 2001

Comments: In the open market, the market sentiments remained completely in favor of the Rupee as the Rupee showed two month highs against the Green back this week. The improvization in the value was due to the easy supply of the Green back in the market, which covered the demand of the currency with ease. The high gains of the Rupee in the interbank market after the release of the IMF tranche also affected the Kerb and supported the Rupee.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

66.05

67.325

-1.8937

61.1

8.1014

 


Comments: In the local market, the Rupee showed fine recovery against the Sterling this week. The rushing gains of the Pound were controlled by the Rupee this week as the currency showed normal demand from the individuals well covered by the existing supply. However, the Pound pulled back its losses and ended the week showing a gain of 0.70 Paisa on the desks.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

97.50 98.00 -0.5102 89.9 8.5746

 


Comments: The German Mark showed a mix trend of rise and fall against the Rupee this week and moved both ways on the desks.
However, the Rupee for most of the time kept an upper hand and showed gains against the currency in the sessions. Trading under the influence of the international trend and showed a loss of 0.65 Paisa at the end of the week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

31.30 31.50 -.6349 27.575 13.5086

 


Comments: In the local market, the Yen prolonged with a normal trading trend and no major change was observed. In the international market, however, the currency fluctuated both up and down against the US Dollar this week. The Yen ended the week with a bleak note against the major currencies on the international desks.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.547 .569 -4.0421 .561 -2.4955