KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (May 11, 2008).
RUPEE/US DOLLAR: Rupee showed a mix trend versus the US dollar in the kerb market dealings. However, the local currency gave up grounds amid rise in dollar's demand. The US dollar commenced new week's trading at Rs 68/30,posted gains on the desk and was changing hands at Rs 68/50at close of markets on Saturday. Thus, rupee lost 0/20 paisas versus dollar in the kerb dealings.
Tin the international market, the dollar fell the most against the euro in a month and depreciated versus the yen as a drop in consumer confidence and a surge in crude oil to a record increased concern U.S. economic growth will slow. The currency dropped for the first time in four days against the euro and was down versus most of its major counterpart.
The Australian dollar touched a 24-year high against the greenback as crude oil pushed prices of other commodities up. The dollar decreased 1 percent to $1.5594 per euro at 4:27 pm in New York, from $1.5448 yesterday.
RUPEE/EUROThe single currency remained unchanged against rupee in the open market dealings this week. The 15-nation currency started off trading at Rs 106/30, showed movement in the middle of week by going down but stood unchanged at close of markets on Saturday.
RUPEE/POUND STERLINGThe national currency made a comeback against the cable in the kerb market. The British Pound set off day's trading at Rs 134/35, shed significant grounds amid decline in cable's demand and was changing hands at Rs 133/65 at close of markets on Saturday.