KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (March 30, 2008).
RUPEE/US DOLLAR: Strong demand helped the US currency to post significant grounds versus rupee in the kerb market this week. The American currency commenced new week's trading at Rs 62/90, posted major gains and was changing hands at Rs 63/15 at close of markets on Saturday.
Thus , the national currency recorded a loss of 0/25 paisas versus greenback in the open market. In the international desks, the dollar posted the biggest weekly drop against the euro in more then two year as traders increased bets the federal reserve will cut borrowing costs further while the European Central Bank Holds rate steady.
RUPEE/POUND STERLINGPound sterling kept posting gains against the local currency in the kerb market. The cable commenced new day's trading at Rs 124/35, recorded major gains and was trading at Rs 125/55 at close of close of markets on Saturday. Thus, rupee incurred a loss of Rs 1/20 versus the British Pound.
RUPEE/EUROThe 15-nation currency continued to post gains versus the local currency in the open market. Euro started off new week's trading at Rs 96/50, accumulated grounds due to rising demand and changed hands at Rs 99/40 at close of markets. Thus, rupee lost Rs 2/90 versus Euro in the kerb dealings this week. Moreover, Euro is trading all time high versus rupee in the open market.