KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (November 05, 2006).
RUPEE/US DOLLAR: Rupee shed mere grounds against dollar in the open market dealings this week. The greenback set off new week's trading at Rs 60/60, registered a gain of 0/02 paisa and changed hands at Rs 60/62 at close of markets on Saturday.
Thus, rupee incurred a loss of 0/02 paisa against dollar. On the international desks, the dollar rose the most in four weeks against the yen and strengthened versus the euro after a government report showed the U.S. unemployment rate declined to a five-year to low. The payrolls report suggested inflation will remain a greater threat to the economy than traders had speculated because of job creation, increased hourly earnings and a lower unemployment. Traders cancelled bets a slowdown in the world's largest economy will push the Federal Reserve to cut borrowing costs from a 5 1/2-year high yearly next year.
RUPEE/EURO: Euro continued to score gains against national currency in the open market dealings this week. Euro commenced new week's trading at Rs 76/70, continued its rising tone and altered its position at Rs 77/00 at close of trading sessions on Saturday. Thus, rupee lost 0/30 pasia against the single currency.
RUPEE/POUND: The cable charged up versus rupee in the kerb this week. Pound Sterling kicked off new week's trading at Rs 114/50, kept exerting pressure on rupee and changed hands at Rs 115/10 at close of markets on Saturday. Thus, rupee shed 0/60 paisa against the cable in the open markets at close of markets.