CAPITAL MARKETS

 

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FOREX KERB WATCH

 


.Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated May 28, 200
5

 

 

COMMENTS:
In the open market this week, a mix trend was observed and rupee lost initially but later recovered the same towards the week end. The rupee started fresh week on the overnight positive note but lost the tempo soon since demand was intense from buyers which forced rupee to trade on the back foot. The supply once again fell short as a result of which, dollar at one stage went as high as Rs60/90.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

61.775

61.00

1.2704

58.075

6.3710

 


 

 

COMMENTS
:
Sterling continued its upward acceleration against rupee and more gains in its price were recorded initially this week amid currency's losses against the dollar were limited by an unexpected jump in UK's April retail sales. The currency standings were mainly affected by the continuous rise of sterling against the US dollar in the international market and thus its direct affects were recorded here in the kerb as well. However, the situation took a reverse gear and it was rupee's turn to show positive resistance.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

111.6 111.9 -.2680 106.1 5.1837

 


COMMENTS: The weak performance of euro in the international market affected its standing here in the kerb as well and the national currency as a result enjoyed gains against the same throughout this week. There was no significant buying and selling of euro and exchange prices continued to fluctuate through out under the international market trend. Euro was mostly weak in the international market which was directly reflected here in the kerb dealings as well.

RUPEE/EURO

This Week

Last Week

% Change

Last Year

% Change

76.7 76.9 -.2600 70.85 8.2568

 


 

 

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 markets 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 0.561-0.565 this week.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.560 0.562 -.3558 0.522 7.2796