Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (July 27, 2008).
Thereafter, rupee weakened and was trading at Rs.71/30 at close of markets on Saturday. On the international desk, the U.S. dollar rose against the Japanese yen on Friday, after a trio of better-than-expected data injected a dose of optimism about the U.S. economy. The upbeat readings on U.S. durable goods orders, new-home sales, and a rebound in consumer sentiment from a 28-year low allayed some of the recent gloom over the economy and financial markets, sending stocks higher and giving a boost to the beleaguered U.S. currency.