KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (September 09, 2007).
RUPEE/US DOLLAR: Rupee gave up major grounds versus greenback in the kerb dealings this week amid surge in demand of dollar in the local market. The dollar set off new week's trading at Rs 60/87, recovered grounds and was changing hands at Rs 60/93 at close of markets on Saturday.
Thus, rupee shed 0/05 paisas against dollar in the open market. On the international desks, the dollar fell to the lowest in a month against the euro and weakened versus the yen after a government report showed the U.S. economy unexpectedly lost jobs last month for the first time in four years.
RUPEE/EUROThe national currency shed significant grounds against euro in the open market. The single currency started off new week's trading at Rs 82/85, continued to post gains and was changing hands at Rs 83/50 at close of markets on Saturday. Thus, rupee ended week on a negative note versus euro.
RUPEE/POUND STERLINGThe cable maintained its pressure versus the national currency in the kerb dealings amid demand of pound sterling in the market. Pound Sterling kicked off trading at Rs 122/50, continued to post gain and changed hands at Rs 123/00 at close of markets on Saturday. Thus, rupee incurred a loss of 0/50 paisas against pound sterling in the kerb market.