KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (March 09, 2008).
RUPEE/US DOLLAR: The US currency to show a mix trend against rupee this week. However, on Saturday, dollar remained unchanged versus the local currency. The US dollar opened new week's trading at Rs 62/70, demand remained high therefore touched at Rs 62/90 on Thursday. However, rupee stared making comeback and was trading at Rs 62/70 at close of markets on Saturday. Thus, rupee ended the current week on a positive note versus dollar. I the international market, the dollar dropped for a fourth straight week against the euro after a government report showed the U.S. unexpectedly lost jobs for a second consecutive month in February.
RUPEE/EUROThe 15-nation currency continued to gain against rupee in the open market dealing amid euro remained top performer in the international market and demand factor helped it to gain 0/85 paisas in the local market. The single currency started off trading at Rs 95/10, recorded major gains and was changing hands at Rs 95/95 at close of market on Saturday. Thus rupee ended another week on a note versus euro in the kerb dealing in the kerb dealings.
RUPEE/POUND STERLINGThe cable remained bullish against the local currency in the kerb market amid upbeat performance on the international desk and continuous increase in its demand in the local market, were the two factors that supported the British currency. Pound Sterling kicked off new week's trading at Rs 124/25,continued to post gains and was trading at Rs 125/95 at close of markets on Saturday. Thus, rupee gave up Rs 1/70 versus the British Pound.