Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (June 10, 2007).
The dollar opened trading at Rs 60/87 on Monday. Kept losing grounds amid lack of demand that help rupee to recover significant grounds by changing hands at Rs 60/77 on Friday. However, dollar made a comeback by gaining 0/05 paisas and changed hands at Rs 60/82 at close of markets on Saturday. Overall, the national currency accumulated 0/05 paisas against dollar this week. On the international desk, the dollar rose to the highest in more than two months versus the euro and advanced against the yen as Treasury yields attracted international investors. The dollar rose 0.47 percent to $1.3370 per euro at 4.04 pm in New York, earlier reaching $1.3321, the highest since April 4. The US currency has rebounded more than 3 cents from its record low of $1.3681 set April 27.