PAGE DATABASE

 

FOREX KERB WATCH

 

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  July 20,
2002

 

 

Comments: In the open market this week, the Rupee showed firmness against the US Dollar in most of the sessions. The demand of the currency remained low as compared to its supply. The individuals keeping in view the weakness of the US Dollar in the kerb and in the international market, started to dispose off their held Dollars in the market

 

that increased the supply of the Dollars in the market thus supporting the Rupee in the dealings. The Rupee therefore stood firm throughout the week and ended the dealings on a positive note here in the kerb.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

59.96

59.96

0.00

67.675

-11.4000

 


Comments: The Sterling showed some more gains against the Rupee this week too and kept the national currency under pressure in most of the sessions. The trading turnover remained normal but the firmness of the currency in the international market and its gains against the US Dollar gave support to the currency here in the kerb as well. The Rupee sensed pressure on the desks and thus ended the week showing loss in its price at the close of the markets here in the kerb.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

93.175 93.175 0.00 96.1 -3.0437

 


Comments: In the open market, the German Mark showed gains against the Rupee and showed more gains in its price as compared to last week. The Euro continued to dominate the US Dollar and the Rupee in the kerb and for the second time in this month crossed the Rs. 60 mark in the market. The weakness of the US Dollar in the international market against the Euro gave full technical support to it here in the kerb as well and the currency market major gains against the Rupee throughout the week.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

30.275 30.30 -.0825 30 .9166

 


Comments: The Rupee showed no major gain or loss against the Yen this week too. The Yen however advanced further positively against the Rupee due to its gains against the US Dollar in the international market. The demand of Yen came from the corporate circle and thus the Rupee stood firm at the close of the week against Yen.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.5115 0.5115 0.00 0.544 -5.9742