KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (November 12, 2006).
RUPEE/US DOLLAR: Rupee continued to give up mere grounds against dollar in the kerb dealings this wee. The US dollar commenced new week's trading at Rs 60/62, posted significant gains and changed hands at Rs 60/67 on Friday.
However, rupee made a comeback on Saturday by recovering 0/04 paisa against dollar. Overall, rupee ended the current week at Rs 60/63 at close of markets on Saturday. Thus, rupee incurred a loss of 0/01 paisa versus greenback. On the international desks on Saturday, the dollar declined versus the euro and yen after China's central bank head Zhou Xiaochuan said the nation will keep diversifying its foreign-exchange reserves.
RUPEE/EURO: Rupee suffered tremendous losses versus single currency in the open market dealings this week. Euro started off new week's trading at Rs 76/90, continued its upward trend and altered its position at Rs 77/60 at close of trading session on Saturday.
Thus, rupee lost 0/70 paisa against the single currency. Overall, euro remained charged up against the national currency in the kerb.
RUPEE/POUND: The cable continued to gain versus rupee in the kerb this week. Pound Sterling set off new week's trading at Rs 114/70, posted gains and changed hands at Rs 115/30 at close of markets on Saturday. Thus, rupee shed 0/60 pasia against the cable in the open market at close of markets. On the international platform, The GBP gain against the dollar after general weakening of the American currency prior to the congressional elections while the sterling was also empowered by uplifting expectation on economical growth.