KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (December 04, 2005).
RUPEE/US DOLLAR: The national currency showed a steady trend against greenback in the open market dealings this week and nay major change in the exchange price was note recorded through out. Dollar started new week at Rs 60/10 and was changing hands at the same price at close of markets on Saturday.
The demand with Vendors remained below the normal whereas supply was equally sufficient to meet the same and thus, stood as a major supporting factor from the national currency.
RUPEE/EURO: The single currency remained bleak against rupee most of the time this week as international pressure from dollar on the international desks forced it to trade on the back foot through out. Euro started new week at Rs 70/10 and ended at the same price on Saturday.
However, on account of ECB's decision to finally raise its interest rates after a long pause of more than two years gave some support to the currency here in the kerb too but proved to be short lived.
RUPEE/POUND: Cable observed both upward and downward trends versus the national currency in the kerb this wee. The currency started off new week's trading at its overnight price of Rs 103/45. This implies that the currency showed an overall gain of Rs 1/05 and thus as a major as a major performer amongst other currencies against rupee here in the kerb.