KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (August 12, 2007).
RUPEE/US DOLLAR: The national currency continued to recover against the US dollar in the kerb this week. The American dollar started off new week's trading at Rs. 60/85, lost 0/05 paisas and changed hands at Rs. 60/80 at close of markets on Saturday. Thus, the local currency posted a gains of 0/05 paisas versus dollar in the open market dealings. On the international desk, the yen slipped against both the dollar and the euro after U.S. Federal Reserve injected cash into the banking system three times on Friday, easing U.S. stock market losses and calming anxious financial markets.
RUPEE/EUROThe single currency showed a negative trend versus rupee in the kerb market this week. The 13-nation currency commenced new week's trading at Rs. 83/60, incurred losses and was changing hands at Rs. 83/00 at close of markets on Saturday. Thus, the local currency recorded a gain of 0/60 paisas against euro in the open market dealings.
RUPEE/POUND STERLINGPound sterling registered significant losses against rupee in the open market. Pound Sterling opened new week's trading at Rs. 123/10, shed significant grounds and changed hands at Rs. 122/65 at close of markets on Saturday. Thus, the national currency gained 0/45 versus pound in the open market.