KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (July 29, 2007).
RUPEE/US DOLLAR: The national currency showed more losses against the American dollar in the kerb market this week. The US dollar set off new week's trading at Rs 60/95, gained 0/02 paisas and changed hands at Rs 60/97 at close of markets on Saturday. Thus, the national currency ended week on a negative note versus greenback in the open market dealings. On the international desk, the U.S. dollar rebounded sharply on Friday, after a fall in the precious session, as trouble in the U.S. credit markets led investors to repatriate funds from overseas.
RUPEE/EUROThe single currency incurred losses versus rupee in the open market this week. Euro started off new week's trading at Rs 83/70, posted losses and closed the week at Rs 83/00 on Saturday. Thus, the local currency recorded a gain of 0/70 paisas against euro in the open market dealings. On the international desk, the euro fell to test the long-term support at 1.3630 versus the dollar, while sterling slumped rapidly from 2.05 to as low as 2.0250
RUPEE/POUND STERLINGPound Sterling saw significant losses against rupee in the kerb market. British Pound opened new week's trading at Rs 124/85, continued to shed grounds and was changing hands at Rs 123/00 at close of markets on Saturday. Thus, rupee gained Rs /185 versus pound in the open market.