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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on 
June 29, 2002

Comments: The Rupee in the open market demonstrated gains in its price against the Green back this week. The national currency showed a gain of 0.15 Paisa against the Green mainly due to normal demand and supply in the market. The US Dollar lost certain grounds against major world currencies in the international market that supported the Rupee in the kerb.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.175

60.275

-.1659

66.65

-9.7149

 


Comments: The Rupee like last week remained under pressure against the Sterling this week too. The Pound showed major gains in its price against the Rupee as the currency continued to show significant gains in its price against the US Dollar in the international market. The Sterling breached the Rs.90/- barrier last week and prolonged with the same and gave no technical chance to the Rupee to come up and recover.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

92.35 90.35 2.2136 93.6 -1.3354

 


Comments: In the open market this week too, the Rupee remained under tremendous stress against the Euro. Euro traded at record highs this week breaking the Rs.60/- level for the very first time since its physical introduction in the market. Investors showed interest in buying the Euro, which enjoyed major support from its gains against the US Dollar in the international market.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

30.45 29.90 1.8394 28.8 5.7291

 


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

0.5035 0.4960 1.5120 0.5285 -4.7303