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FOREX KERB WATCH

 


.Comments by OWAIS S. KALIA (Khanani & Kalia)
Updated Aug 06, 200
5

 

 

COMMENTS:
Rupee showed a mixed bag performance against US dollar in the open market dealings this week. Fresh week started with rupee trading on a high note after standing firm for around two weeks caller. On Monday, rupee prolonged with the same trend which soon proved to be short lived and the national currency once again came under pressure. Exchange price which was equal to Rs. 60/30 at new week's start went up to Rs. 60/40 first and then gradually Rs.60/45.

RUPEE/US DOLLAR

This Week

Last Week

% Change

Last Year

% Change

60.475

60.475

00

59.025

2.4567

 


COMMENTS: Euro traded both ways in the open market this week as its upward performance against dollar in the initial sessions but ultimate decline on Friday, showed their direct impact. Euro crossed Rs. 74/- mark for the first time in the last two months and at one stage was changing hands at Rs. 74/- which also stood as its highest price recorded in week's trading.

RUPEE/POUND STERLING

This Week

Last Week

% Change

Last Year

% Change

106.6 105.9 .6610 108.2 -1.4787

 


 

 

COMMENTS
:
Pound sterling also showed a gradual rise in its price against rupee this week and was able to cross Rs. 106/- barrier. There was an increased selling in the market after security concerns in UK gave rise to the fears that the currency may lose heavy grounds in the international market. However, due to its upward performance against dollar in the international market, currency was getting technical support. Sterling started new week at Rs. 105/60 and on Saturday, it was changing hands at Rs. 106/50, thus showing a gain of 0.90 paisa overall.

RUPEE/EURO

This Week

Last Week

% Change

Last Year

% Change

74.0 73.0 1.3698 72.1 2.6352

 


COMMENTS: The performance of yen was as usual mostly influenced by its risa and falls against dollar and other major currencies in the international market. The demand on the local desks did not show any significant move and on fundamental grounds, rupee was trading firm against the currency in most sessions. The trading range of Yen remained between 0.533 and 0.534.

RUPEE/JAPANESE YEN

This Week

Last Week

% Change

Last Year

% Change

0.5325 0.5345 -.3741 0.5295 .5665