KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (June 10, 2007).
RUPEE/US DOLLAR: Rupee showed a mixed trend versus the American dollar in the kerb market this week. However, rupee remained in the positive territory at close of markets on Saturday.
The dollar opened trading at Rs 60/87 on Monday. Kept losing grounds amid lack of demand that help rupee to recover significant grounds by changing hands at Rs 60/77 on Friday. However, dollar made a comeback by gaining 0/05 paisas and changed hands at Rs 60/82 at close of markets on Saturday. Overall, the national currency accumulated 0/05 paisas against dollar this week. On the international desk, the dollar rose to the highest in more than two months versus the euro and advanced against the yen as Treasury yields attracted international investors. The dollar rose 0.47 percent to $1.3370 per euro at 4.04 pm in New York, earlier reaching $1.3321, the highest since April 4. The US currency has rebounded more than 3 cents from its record low of $1.3681 set April 27.
RUPEE/EUROThe single currency showed a mixed trend versus rupee in the kerb market. However, local currency accumulated significant grounds at close of markets on Saturday. Euro opened new week's trading at Rs 81/75 and on Saturday was trading at Rs 81/20 at close of markets. Thus, rupee gained 0/55 paisas against the 13-nation currency in the kerb.
RUPEE/POUND STERLINGThe cable shed significant grounds against the local currency in the kerb dealings. Pound Sterling kicked off new week's at Rs 120/65 and was trading at Rs 119/40 at close of markets on Saturday. Thus, rupee gained Rs 1/25 versus British Pound. On the international desks, the sterling slid sharply after the Bank of England left its interest rates unchanged at 5.50.