KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (August 26, 2007).
RUPEE/US DOLLAR: The national currency saw significant losses versus the US dollar in the kerb this week. The dollar set off new week's trading at Rs 60/75, continued to gain grounds and was changing hands at Rs 60/88 at close of markets on Saturday.
Thus, rupee incurred a loss of 0/13 paisas versus dollar in the open market dealings. On the international desk, the dollar fell the most against the euro since March on diminished concern that U.S. housing weakness well slow global growth.
RUPEE/EUROThe single currency recovered major grounds against rupee in the kerb market. Euro started off new week's trading at Rs 81/65, posted gains on the local desk and changed hands at Rs 82/85 at close of markets. Thus, the local registered a loss of Rs 1/20 paisas against euro in the open market dealings.
RUPEE/POUND STERLINGPound Sterling remained gainer against rupee in the kerb dealings. The cable opened new week's trading at Rs 120/30, continued to post grounds and changed hands at Rs 122/05 at close of markets on Saturday. Thus, rupee lost Rs 1/75 versus British Pound in the open market.