. .



FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Feb 12, 2001

Comments: In the local market, the Rupee remained stable against the Dollar this week as the national currency gained against the Green in most tradting sessions of the week. The Rupee was traded at Rs. 62.21 for buying and Rs. 62.25 for selling respectively demonstrating a gain as compared to the last week's level. The demand of the Dollar in the kerb was well supported by it's supply and both the market forces moved in a positive direction for the Rupee. Also the Rupee got cues from the behaviour of the Green back in the international market.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

62.225

62.15

.120

54.265

14.668

.

.

Comments: In the kerb the Rupee showed gains over the Pound as the currency lost it's shine in the market mainly due to a normal supply of the currency adequate to meet the requirements of the buyers. The Rupee at the end of the week recorded a gain of Rs. 1.40 against the Sterling this week which is supposed to be the highest gain this month.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

90.2 91.5 -1.420 87.2 3.440
.

.

Comments: In the domestic market, the Mark remained under the pressure of the Rupee as the Rupee recovered some of it's lost grounds that it had to suffer during the last week of trading in the kerb. This week the Rupee kept an upper hand over the Mark and closed the trading showing a gain of 0.35 Paisa against the currency.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.475 29.85 -1.256 27.4 7.572
.

.

Comments: The Yen found itself under pressure as the future prospects of the currency are still not very hopeful for the investors at the international level. The continuous decline in the major economic factors are posing a serious question mark for the investors and therefore the currency is finding itself in a mid of low confidence vote. On the other hand, the speculation that the BoJ may go for increasing the supply of money in the economy also affected the Yen negatively at the closing sessions of the trading.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5285 .535 -1.214 .498 6.124