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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Feb 02, 2002

Comments: In the open market, the Pak Rupee dominated the trading sessions this week as the national currency gained significant grounds against the Green back on the desks. The Rupee gained 0.20 Paisa against the Green on the desks as the national currency met the existing demand of the currency with quite ease while on the other hand, the demand force also remained at normal ebb.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.225

60.775

-.9049

61.925

-2.745

 


Comments: The Rupee in the open market remained strong against the Pound this week too and in most of the sessions, gained grounds against the currency. The launch of Euro and gains of the US Dollar in the international market subdued the Sterling and thus the currency remained bleak giving the Rupee a better chance to show firmness.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

85.975 86.20 -.2610 90.60 -5.1048

 


Comments: The Rupee showed strength against the German Mark this week too and thus continued with the firm footing that it has been showing for the last couple of days. The fall of Euro in the international market against the US Dollar and less than expected performance of the currency on the trading desks showed its impact in the kerb as well and thus the Rupee ended the week showing a gain in its price.

RUPEE/DEUTSCHE MARK

This Week

Last Week

% Change

Last Year

% Change

26.775 27.05 -1.0166 29.35 -8.7734

 


Comments: The Rupee remained firm against the Yen this week too and much change in its price at the end of the market was not recorded here in the kerb. The Dollar continued to rise against the Yen creeping higher on good corporate earnings and economic number from the United States coupled with a rebound in the New York stock market.