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FOREX KERB WATCH

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated on  Feb 16, 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 except on Thursday when the market behaved positively after the meeting of President Musharraf with President Bush and thus faced slight dips in its price on the particular day but in the closing days the Rupee recovered back the grounds.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

59.775

59.925

-.2503

62.225

-3.9373

 


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 demand of the Pound came in normal volumes fair enough to be meet easily by the existing supply in the market. 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

86.60 85.70 1.0501 90.2 -3.9911

 


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

26.95 26.975 -.0926 29.475 -8.5665

 


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 numbers from the United Sates coupled with a rebound in the New York stock market.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.4540 0.448 1.3392 .5285 -14.0964