KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (July 22, 2007).
RUPEE/US DOLLAR: Rupee showed a mixed recovery against the US dollar in the open market this week on a positive note. Dollar which started week at Rs 60/98 lost 0/03 paisa and finally closed at Rs 60.95 on Saturday. Rupee was able to recover due to less than normal demand and sufficient supply of greenback with vendors through out the week. On the other hands, the continued dismal performance of dollar against all major currencies in world markets also gave support to rupee hare in the kerb.
RUPEE/EUROEuro continued to shine in the local as well as the international markets and added more to its weekly gains. It started off new week at Rs 83/55 and ended at Rs 83/80 thus setting new all time high price. On the world desk too, euro climbed 0.3 percent to $1.3825 after reaching its strongest since the single currency launch in 1999.
RUPEE/POUND STERLINGPound like euro; kept rupee under tremendous pressure and continued to trade at its all time high against rupee this week too. Pound Sterling started new week at Rs 123/50 and by showing a string gain of Rs 1/10 paisa, ended at Rs 124/60, Sterling stood as the highest performer against rupee which was purely aided by its international market gain against dollar where rose as high as $2.0548 on the Reuters dealings system and last changed hands at $2.0538, up 0.4 percent from late New York trade on Tuesday.