PAGE DATABASE

 

1- FOREX KERB WATCH

2- COT WEEKLY REVIEW

3- FINEX WEEK

 

FOREX KERB WATCH

 

 

 

Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated Dec 11, 2004

 

 

 

 

 

 

COMMENTS: The raiding trend just got reverse against US dollar this week and the national currency failed to maintain its recovery phase which it had started recently. Throughout, rupee remained under pressure against the greenback amid its high demand especially from the individuals. On the other hand, the increase in the international price of gold hitting the price of UAE Dirham also stood as one of the major reasons dragging the rupee down on the desks.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.175

59.529

1.0851

57.425

4.7888

 


COMMENTS: Sterling enjoyed a roller coaster ride since it kept on moving up and down throughout this week's trading. The currency smashed yet another barrier when it further improved its earlier record price level of Rs.115/- set last week and at one stage stood at Rs. 116/20. It was a continuation of its rising trend as rupee is already under tremendous pressure since last one month and has been falling to major lows. However, the national currency retreated and recovered some quick grounds by end of the week.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

115.5 115.8 -.2590 100.20 15.2694

 


 

 

COMMENTS
: The national currency came back strongly against euro after falling to record levels last week amid downward trend of the currency in the international market. The trading of currency here in the kerb also remained active as constant trading of the same was recorded throughout thus helping rupee to show technical resistance. The rupee which fell below Rs. 80/- mark for the first time in its history consolidated this time and overall a recovery of 0/40 was seen in its price as euro was changing hands at Rs. 79/75 as compared to Rs. 80/15 at the start of current week.

RUPEE/EURO

This Week

Last Week

% Change

Last Year

% Change

79.8 80.1 -.3745 70.30 13.5135

 


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 initially, yen was able to build pressure on rupee but later on lost the tempo giving up the earlier gains.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.5725 0.5825 -1.7167 0.530 8.0188