PAGE DATABASE

 

1- FOREX KERB WATCH

2- COT WEEKLY REVIEW

3- FINEX WEEK

 

FOREX KERB WATCH

 

 

 

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated Oct 30, 2004

 

 

 

 

 

 

COMMENTS: The trading trend between rupee and US dollar was not very different from last week exchange prices changed constantly due to demand and supply conditions of the market. The heavy demand of dollars continued to keep rupee under severe pressure which resulted in further deprecation in its price and a stronger dollar. The greenback started new week on its overnight positive note and accumulated more pressure on rupee amid high demand from the individuals and less than required supply in the market.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

61.8

60.575

2.0222

57.405

7.6561

 


COMMENTS: Pound steeling continued to set new all time highs against rupee this week too and therefore the national currency sensed record pressure throughout this week's trading. Sterling which set a new record price level after crossing Rs. 110/- barrier last week unproved it further and went up to Rs.112/20 towards the close. Rupee prolonged its weak portfolio against sterling and was unable to show any resistance and kept on falling to new lows. The currency standings were mainly affected by the continuous rise of sterling against US dollar in the international market.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

112.6 110.9 1.5329 97.20 15.8436

 


 

 

COMMENTS: Euro went on enjoying the upward ride against rupee this week too and kept on setting new price levels with every new change. The currency which was strongly performing against the greenback in the international market was doing the same here in the kerb as well thus making it difficult for the national currency to resist the pressure. Trading started at Rs. 77/40 and euro went up to Rs. 78/35 showing an appreciation which also stands as the highest recorded price of euro since its launch as world's prime currency.

RUPEE/EURO

This Week

Last Week

% Change

Last Year

% Change

78.4 76.3 2.7522 66.70 17.5412

 


COMMENTS: The rupee traded under pressure against yen this week too and more falls witnessed. With its strong performance against greenback in the international markets, yen was able to build more pressure on rupee here in the kerb this week. The demand of currency remained high for remittance purposes and the currency traded at a price level of 0.560-0.575 this week showing gains of 0.015 paisa at the close of markets. It was the second consecutive week when the national currency sensed tremendous pressure from yen.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.5785 0.562 2.9359 0.521 11.0364