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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Feb 19, 2001

Comments: In the local market, the Rupee showed a jumble trend against the Dollar this week. The trading drift mostly remained side and the currency found itself under pressure against the currency most of the time. The demand of the Green in the market remained on a high as the Hajj season is on the peak and the inflow of the forex has slowed down a little due to the very same reason. At one stage of the week, the Dollar reached Rs. 62/50 Mark but the Rupee soon showed the recovery and held the currency to gain further strength.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

62.425

62.225

.321

54.355

14.846

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Comments: In the local market, the Pound demonstrated an uplift in the first three days of the week but soon the Rupee came back and recovered the lost grounds. The trading remained at its normal scale and no hectic buying and selling of the currency was recorded in the market. At the end of the week the Rupee lost 0.50 Paisa against the Pound.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

90.7 90.2 .554 87.3 3.894
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Comments: In the kerb, the German Mark and the Rupee moved either ways and rise and falls in the values of both the currencies were recorded till the end of the trading sessions on Saturday. For the first three days the Mark gained, but in the last three days, the Rupee recovered its lost shine smartly. At the end of the week, finally the Rupee showed a gain of 0.20 against the Mark.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.3 29.475 -.593 27.475 6.642
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Comments: In the international market, the Yen lost against Dollar in the initial stages of the week but showed a gain on Friday and continued till the close of the markets on Friday. The economy remained in the same persisting condition but the rumors came that the Japanese Prime Minister may leave the office after a massive increase in the arguments for economic detoriation and irresponsible behaviour against him.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.5375 .5285 1.702 .491 9.470