PAGE DATABASE

 

1- FOREX KERB WATCH

2- COT WEEKLY REVIEW

3- FINEX WEEK

 

FOREX KERB WATCH

 

 

 

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated June 05, 2004

 

 

 

 

COMMENTS: The trading trend just got reverse against the US dollar this week and the national currency failed to maintain its recovery phase which it had started one week earlier. Throughout, the rupee remained under pressure against the greenback amid its high demand. The rupee once again came under pressure due to increased demand of the currency in the market and therefore, failed to capitalize its gains. The rupee fell to as low as Rs.58/40 this week but showed some recovery in the final stages of trading.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

58.375

58.075

.5165

57.97

.6986

 


COMMENTS: Sterling continued its upward acceleration against rupee more gains in its price were recorded this week as well. The currency standings were mainly affected by the continuous rise of sterling against the US dollar in the international market and thus, its direct effects were recorded here in the kerb as well. Starling started at Rs.106/30 and crossed Rs. 107/- barrier during the mid of this week. At close, sterling was changing hands at Rs.107/10 showing a significant gain of 0.80 paise against the rupee.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

107.2 106.1 1.0367 96.075 11.5794

 


 

 

COMMENTS: The strong performance of euro in the international market affected the standing of rupee here in the kerb this week. Throughout this week, the national currency remained under pressure and rising trend in the price of euro was recorded. Euro started this week at Rs.70/80 and by showing a gain of 0.70 paisa, was changing hands at Rs.71/50 at close of markets. A slight increase in the demand of euro was recorded this week and overall the national currency ended current week on a negative note against euro.

RUPEE/EURO

This Week

Last Week

% Change

Last Year

% Change

71.6 70.85 1.0585 67.90 5.4491

 


COMMENTS: A mix trend was observed in the price of yen against the rupee this week and the currency continued to behave under its international market trend. With its solid performance against the greenback in the international markets, yen was able to build pressure on rupee as well here in the kerb. The demand of currency remained within normal range and yen continued to trade at a price level of 0.526-0.528 this week which was higher than its price at close of last week. Overall, rupee sensed pressure against yen and fall in its price was recorded at weekend.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.523 0.522 .1915 0.487 7.3921