Comments by OWAIS S.
KALIA (Khanani & Kalia)
Updated on Mar
09,
2002
Comments:
The Rupee weakened against the US currency this week due to persistent
Dollar demand. The Green rallied propped up by strong Dollar demand
from corporate clients for the payment of quarterly import bills and
late unwinding of long positions by banks ahead of the weekend.
RUPEE/US DOLLAR |
This Week |
Last Week |
% Change |
Last Year |
% Change |
|
60.575
|
60.02
|
.9246
|
62.9
|
-3.6963
|
Comments:
In the open market, the Rupee remained weak against the Pound
throughout the week's trading. The Sterling opened the week showing a
positive comeback after so many days and gained in most sessions of
the week. The demand of the currency was high mainly due to the buying
pressure from the individuals going back after celebrating Eid.
RUPEE/POUND STERLING |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 86.20 |
85.60 |
.7009 |
923 |
-6.6088 |
Comments:
The German Mark also took cues from the weakness of the Rupee
against most of the currencies and showed ample grounds in most
sessions of the week. The Rupee opened the week with a cautious move
but failed to maintain its stability in the market due to the
prevailing pressure in the market.
RUPEE/DEUTSCHE
MARK |
This Week |
Last Week |
% Change |
Last Year |
% Change |
| 27.125 |
26.70
|
1.5917 |
30.1 |
-9.8837 |
Comments:
In the open market, the Yen
against the Rupee broke major levels in the trading sessions this
week as the currency was demanded more than ever before in the last
two months and thus put pressure on the national currency. The Rupee
lost significant grounds against Yen.
RUPEE/JAPANESE YEN |
This
Week |
Last Week |
% Change |
Last Year |
% Change |
| 0.4685 |
0.45 |
4.1111 |
.5275 |
-11.1848 |
