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FOREX KERB WATCH

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

Comments: The Rupee in the open market showed more recovery on the trading desks and another gain in its value against the Green back was witnessed. The Rupee that started the week showing a negative drift prolonged with the same in the first two days of the week of trading but later on showed some more active gains against the Green back as the physical supply of the currency supported the market sentiments and thus the Rupee came up.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.70

60.575

-.2063

60.815

-.1890

 


Comments: In the kerb, the Pound Sterling remained mix against the Rupee as the currency showed a gain at the end of the week amid to strong trading sentiments of the currency against the US Dollar in the international market. The demand of the currency was comparatively high in the market that urged the Rupee to loose some grounds against the Sterling this week.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

87.90 87.10 -.0105 89.8 -2.1158

 


Comments: Rupee this week too, remained firm against the German Mark, as the market did not show any major demand of the currency. The physical supply of the currency in the market was adequate enough to cover the existing demand and thus any major change in the value of either currencies was not recorded in the market till the close of the markets.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

27.85 27.70 .5415 27.875 .0896

 


Comments: In the domestic market, normal trading took place and any major change in the value of the Rupee against Yen was not recorded. The demand of Yen usually comes from the business circles, as individuals do not frequently demand the currency. So as a result of the shortfall in the imports and exports of Pakistan the demand of the currency has reduced and thus the market sentiments have supported the Rupee.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.4765 .4845 -1.6511 .5405 -32.1924