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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on 
May 04, 2002

Comments: In the open market, the Rupee started with a cautious move as no major movement was observed on the first two days as the buyers waited for the results of the referendum on Tuesday. The market resumed its activities after two days break due to Labor Day and then strike which affected the Rupee and the national currency lost grounds due to the active participation of the buyers in the last two days of the week, however, managed to recover grounds.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.325

60.325

0.00

63.925

-5.6315

 


Comments: The hike in the demand of the Sterling especially in the final days of trading made the Rupee to lose significant grounds against the Pound as compared to last week's trading price. The rise in the demand of the Sterling hurt the national currency and it lost 0.30 Paisa at the close of the markets on Saturday.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

88.95 88.20 .8503 91.70 -2.9989

 


Comments: The Rupee remained weak against the German Mark this week, technically, the supply of the Mark was short this week due to which the national currency had to suffer a drawback in the form of 0.30 Paisa loss in its price at close of the markets as compared to last week's score. The Rupee also faced tough competition from Euro as well and lost significant grounds.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

28.15 27.85 1.0771 29.10 -3.2646

 


Comments: The trading pattern between Yen and the Rupee was not much different from that in the last week. The Rupee remained firm and no major change in its price was recorded throughout this week's trading too. The Yen also remained firm in the international market and therefore no major change in its price was recorded against the Rupee.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.474 0.4705 7438 .5195 -8.7584