Khanani & Kalia International (Pvt) Limited Closing Rates of currency notes on Sunday (March 27, 2005)

RUPEE/US DOLLAR: The rupee continued to lose against the greenback this week and more depreciation in its value was recorded. The national currency started new week on a sluggish note and continued to trade under pressure on account of increased demand, Lower supply and rising trend of dollar both in inter bank as well as international markets. As a matter of fact, the buyers which were sidelines recently came back and therefore, the national currency went on the back foot however the dollar took a U turn on the last two days and rupee recovered 0.10 paisa but closed week overall on a negative note.
RUPEE/EURO: A downward trend in the price of Euro was observed through out the week. The major reason of euro's fall was its fall against the US dollar in world markets. The currency fell to its highest level on Thursday when Euro accelerated losses past the $1.30 figure on the international desks hitting a 5-week low of the $1.2958 after Germany's Ifo business climate index hit an 18-month low as it fell to 94.0 in March from a revised figure of 95.4 in February. At close, euro was changing hands at Rs 77/65 as compared to its last week's ending price of Rs 79/40.
RUPEE/POUND STERLING: Pound sterling which had improved its standing earlier lost the tempo in this week's sessions and gave up hefty grounds. Rupee was able to recover against sterling due to its downward performance against the green back in the international market. The major falls werre recorded when sterling lost nearly 2 cents on the international desks as traders veered away from the high yielding currency and into the rallying dollar, amid the promise of sustained rate hikes in the US Rupee recovered against sterling of this week and trading was taking place at Rs 111/90 on Saturday.