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 |
