KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (June 03, 2007).
RUPEE/US DOLLAR: The national currency showed a mixed trend versus the American dollar in the open market this week. However, rupee gained 0/04 paisas against dollar at close of markets. The US dollar commenced new week's trading at Rs 60/92 on Monday, went up amid sharp rise in the demand of dollars helping greenback to reach at Rs 61/- on Wednesday. However, rupee made a strong came back and ended the week at Rs 60/88 on Saturday. On the international desk, dollar rose to a seven week high against the euro as strong U.S. jobs manufacturing data damped expectations of a Federal Reserve interest rate cut this year.
RUPEE/EUROThe 13-nation currency showed both trends upward and downward versus rupee in the kerb market. However, euro remained unchanged versus the single currency at close of markets. The single currency opened new week's trading at Rs 81/70 and on Saturday was trading at the same price at close of markets. On the international desks, euro remained weak against dollar amid strong U.S. jobs and manufacturing data damped expectations of a Federal Reserves interest rate cut this year.
RUPEE/POUND STERLINGPound Sterling remained in both territories upward and downward against the local currency in the kerb dealings. However, rupee gained 0/05 paisas versus pound at close of markets. The cable set off new week's trading at Rs 120/55 and was trading at Rs 120/50 at close of markets on Saturday.