KKI closing rates of currency notes

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (June 04, 2006).

RUPEES/US DOLLARS: Rupee traded under tremendous pressure against dollar initially this week but later recovered and succeeded to end on a positive note on Saturday.
Demand from buyers and continuous rise of greenback in the interbank market pushed rupee down on the currency desks which fell to as low as Rs 60/70 during trading on Tuesday. However, with supply getting better in the from of selling from customers in the kerb and arrival of remittances in the interbank helped rupee to recover and thus, a downward trend in the exchange price was recorded.
Dollar's price went down to Rs 60/53 which also stood as its closing price on Saturday.
As a routine trend normally seen before budget announcement and last month of fiscal year, demand has increased from importers and oil companies in the lass couple of days which is giving a tough time to national currency. Further, dollar strengthened in the international market on Thursday after minutes from the Federal Reserve's latest policy meeting stoked expectations that the central bank will raise interest rates again later this month. Minutes released on Wednesday from the May 10 meeting show that policy makes were not sure how much higher rates should climb, if at all but a mention that inflationary pressures were increasing helped boost expectations that rates would rise.
Copyright Business Recorder, 2006