KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (October 15, 2006).
RUPEE/US DOLLAR: Rupee saw both trends upward and downward versus dollar in the kerb this week. However, local currency gains at close of trading sessions on Saturday. The US dollar commenced new week's trading at Rs 60/68, started recording gains and changed hands at Rs 60/77 on Thursday. However, rupee made fine comeback and altered its position at Rs 60/65 at close of markets on Saturday.
Thus, rupee gained 0/03 pasia against dollar. On the international desks, dollar rose to the highest against yen this year after a government report showed U.S. retail sales excluding gasoline increased last month.
RUPEE/EURO: Rupee continued its fine performance against single currency in the open market dealings this week amid euro's falls in the international market. Euro kicked off new week's trading at Rs 76/30, continued to give up grounds and changed hands at Rs 75/85 at close of trading sessions on Saturday. Thus, rupee recorded a gain of 0/45 pasia against 12-nation currency.
RUPEE/POUND: Pond Sterling continued to post losses against rupee in the kerb this week. The cable started off new week's trading at Rs 113/20 and incurred losses by changing hands at Rs 112/40 at close of markets on Satuday. Therefore, rupee accumulated 0/80 paisa against British Pound at close of markets. On the international front, the sterling increased to its highest levels in three days against the dollar benefiting from doubts of American interest rates direction and confidence in upcoming hike in British interest rate.