. .



FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Feb 05, 2001

Comments: In the local market, the Rupee showed a mix trend of gains and losses against all the major currencies. The Rupee shed against the Green in the first few days of the week but recovered soon and ended the week with a firm and positive note. The demand of the Dollar increased to a great extent in the market that forced the Rupee to slide down and lost it's shine that it gained in the last week. However, the timely increase in the supply of the Dollar supported the Rupee to recover the losses and the same trend prolonged till the close of the markets. The demand of the Dollar remained under control and the Rupee ended the week with a firm footing against the Dollar.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

62.15

61.925

.3633

54.125

14.8267

.

.

Comments: The Rupee remained under pressure against the Sterling most time of the week as the currency showed an upper hand due to it's strong footing against the Dollar in the international market. The Rupee lost Rs. 0.20 Paisa against the Pound at the end of the week. The Rupee also recovered some of it's lost ground and comparatively ended the week with a positive note. Substantial increase in the trading of the currency was observed.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

91.5 90.6 .9933 87.1 5.0516
.

.

Comments: In the local market, the Rupee lost Rs. 0.45 at the end of the week. The currency took cues from the Euro and kept the Rupee under tight control most of the time. The Rupee also showed come back as the currency was adequately supported by the gains of the US Dollar in the international market against the European currencies and thus making an impact in the domestic market too. The selling pressure especially persisted in the market.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.85 29.35 1.7035 27.175 9.8436
.

.

Comments: In the international market, the Yen demonstrated sharp gains against the Dollar this week as the anticipated decision by the Federal Reserve of America for a rate cut supported the currency. This helped the currency to gain it's lost grounds that it has been lingering for the last couple of months. However, the Japanese economy still remained fragile and the economy is relying on it's exports that is continuously under the threat of the decline in the US economy. On the other hand, the economic indicators in Japan are also not in complete favour of the currency.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.535 .527 1.5180 .501 6.7864