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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Feb 26, 2001

Comments: In the domestic market, the Rupee remained under stress against the Dollar this week. Most of the time, the Dollar kept the Rupee under pressure and this was the first time in the last three months that the Dollar crossed the Rs. 63 mark in the trading sessions. The demand of the Dollar in the kerb remained high and mostly the buying pressure persisted in the market from the individuals due to Hajj season. Because of the reason, the Dollar fell short of supply in the market and thus forced the Rupee to shed itself in the trading desks.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

62.95

62.425

.841

54.355

15.812

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Comments: In the domestic market, the Rupee showed a mix trend of rise and fall against the Pound in most of the trading sessions. The Pound ended the current week's trading showing a net gain of 0.90 Paisa in its value against the Rupee. The trading activities in the market remained at its normal levels, as the supply of the currency was adequate to support the currency.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

91.6 90.7 .992 87.3 4.925
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.

Comments: In the kerb, much deviation from the last week's trading trend was not recorded and more or less the activities remained at normal pace. Although the Rupee also showed highs against the Rupee on Wednesday but the Rupee also managed to recover the lost grounds. The Mark gained 0.25 Paisa against the Rupee at the end of the week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.6 29.3 1.023 27.475 7.734
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Comments: In the International market, the Yen never found any room of showing any recovery in the trading against the major currencies. Conversely, the currency lost against the Green when the latest export data revealed that the nation's exports have reduced by 4% with highest cut in the exports to the US in the last four years which is supposed to be the largest buyer of the Japanese products. This situation further made the Yen to loose its grounds and thus posed another question mark for the economy of the country.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

.541 .5375 .651 .491 10.183