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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on 
June 22, 2002

Comments: In the open market, the Rupee lost the firm note that it was showing for the last couple of weeks. The Rupee lost grounds against the US Dollar as the currency demonstrated a hike in its demand mainly due to the severe falls of the Green back against Euro and Pound Sterling in the international market. The investors bought the Dollar and thus the Rupee ended the week with slight dips in its price at close of the markets here in the kerb.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.275

60.305

-.0497

66.6

-9.4969

 


Comments: The Rupee in the market remained under severe pressure against the Sterling this week. The Pound showed major gains in its price against the Rupee as the currency showed significant gains in its price against the US Dollar in the international market. It was the first time in the last few months that the Sterling breached the Rs.90/- level in the trading session here in the kerb.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

90.35 89.14 1.3574 93.35 -3.2137

 


Comments: In the open market this week, the German showed gains against the Rupee but the Euro gave tight competition to the national currency showing major gains in its price. The Euro enjoyed major support from its gains against the US Dollar in the international market and thus showed its immediate impact against the Rupee here in the kerb too.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

29.90 29.05 2.925 28.925 3.3707

 


Comments: In the open market, the Rupee sensed pressure against the Yen since its conversion rate increased and thus the Rupee had to give up the firm footing that it was showing for the last many weeks. The demand of the currency came in normal volumes and thus the Rupee ended the week showing loss in its price at close.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.4960 0.4835 2.5853 0.5265 -5.7929