. .



FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on 
Apr 13, 2002

Comments: The Rupee in the open market stood firm against the Green back during the whole week and no major change in its price was recorded through out. The demand of the Green back was not very high through out the weeks trading. The Rupee in most of the sessions enjoyed support near Rs. 60/25-27 and tested no major level. The demand of the currencies was normal while the physical supply of cash dollars in the market was significant that supported the national currency to end the week with a firm note here in the kerb for the third consecutive time.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.34

60.325

.0248

63.55

-5.0511

 


Comments: No major change in the values of the currencies was recorded in the kerb this week too. The Rupee stood firm against the sterling in most of the sessions as the demand of the currency came in submissive holds and gave no pressure to the national currency at any stage through out the weeks trading. No major rise and fall was recorded in the price of the rupee against the sterling at the close of the markets here in the kerb.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

86.82 86.70 .1384 91.4 -5.0109

 


Comments: In the open market, the Rupee traded firmly against the German Mark this week too. The market sentiments went in favor of the Rupee and the Rupee sensed no pressure from the prevailing demand of the currency in the market. The German Mark however lost ample grounds due to weak performance of the Euro in the international market. However, the demand of German Mark in the kerb was met comprehensively by its supply and thus the currency showed no significant gain or loss against the Rupee at the end of the week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

27.10 27.05 .1845 29.1 -6.8728

 


Comments: The Rupee this week too remained firm against Yen. The slow pace of the business activities especially from the importers has lead the Rupee to stand firm against yen. On the other end, yen lost against US Dollar in the international market this week at close but showed no major impact on its position against the rupee here in the kerb at the close of the market. Thus the Rupee ended the week with a positive note against the Yen and no major change was demonstrated as compared to last week's ending score.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.455 0.4565 -.3285 .508 -10.4330