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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Oct 06, 2001

Comments: In the open market, a mix trend of gain and loss in the values of Rupee and US Dollar were witnessed. The Rupee started the week with a firm note and prolonged to gain further grounds on the desk. However, the Green back recovered its grounds against the Rupee as the importers, speculators and the individuals came into the market to buy the Green in anticipation that it will go further up.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

63.95

66.05

3.1794

61.875

3.3535

 


Comments: In the domestic market, the Pound Sterling lost grounds against the Pak Rupee this week as the currency had to suffer internationally due to weaker than expected economic data and the support given to the US Dollar by Fed and Japan. The Pound however came back and showed gain, but overall the Rupee ended the week showing a gain of Rs. 1.70 in the end.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

94.15 97.50 -3.4358 90.00 4.6111

 


Comments: The Rupee remained firm against the German Mark this week and showed gains against the currency in most of the sessions. The trading volume remained normal but the Mark got support from the gains of Euro in the international market when British Prime Minister reaffirmed his country's policy to join Euro. The Rupee ended the week showing a gain of 0.60 Paisa against the Mark.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.80 31.30 -4.7923 27.65 7.7757

 


Comments: The Rupee and Yen showed no major change against their values and traded at normal tides on the desks. However, in the international market, Yen weakened against the US Dollar this week as the Bank of Japan bought $ 20 million to support the US Dollar and sold Yen as move to safeguard its earnings as 70% of the Japan's investments are in the US Dollar.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.523 .547 -4.3875 .567 -7.7601