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FOREX KERB WATCH

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