KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (January 14, 2007).
RUPEE/US DOLLAR: Rupee remained unchanged versus the US dollar in the kerb this week. The national currency set off new week's trading at Rs 60/90 on Monday, showed no change through out and ended the week at the same price at close of markets on Saturday. Thus, rupee ended current week on a positive note in the open market dealings. On the international desk, the US dollar dropped from a seven-week high against the euro as traders said central banks were buying the 13-nation European currency.
RUPEE/EURO:The 13-nation currency lost significant grounds against rupee in the open market dealings. The single currency commended new week at Rs 79/00, gave up significant grounds and was changing hands at Rs 78/30 on Saturday. Thus, rupee accumulated 0/70 paisa against euro in the kerb.
RUPEE/POUND: Pound Sterling observed significant gains against the local currency in the open market this week. The cable set off new week at Rs 117/50, posted major gains and on Saturday was changing hands at Rs 118/70. Thus, the local currency lost Rs 1/20 against the Pound. In the international market, the currency advanced to 66.07 pence per euro at 3:32 pm in London, from 67.38, its biggest weekly gain in 19 months.