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

Rupee/Us DollarThe rupee once again took the driving seat this week and managed to recover grounds which it had lost last week. The rupee started fresh week on the overnight weak note but soon proceeded in the positive direction by first recovering some lost grounds and then adding further to the same through out. There was a decline in the demand of all currencies which stood as the major supporting factor to the national currency. The major buyers remained sidelines while routine buying and selling took place.

Rupee/EuroEuro showed active performance against rupee this week. The national currency lost significant grounds in the first four days due to the strong performance of euro against the Us dollar in the international market. However, it was able to show some recovery towards the end of the week which again took momentum to make rupee to close markets under pressure in the dealings. At one stage, the rupee fell as low as Rs 78/75, losing 0.901 paisa with respect to its price at the start of the week. It was the first time in the last few months that euro traded above Rs 78/- barrier in the Kerb dealings.

Rupee/Pound Sterling

Sterling's trend was also similar to that of Euro and the currency showed swift gains against rupee in most sessions of this week Sterling started the week on a positive note and continued with the same trend amid its increased demand and rise in the international market against the green back sterling started at Rs 112/95 and went up to Rs 113/90 showing a smart gain of rs0/95 paisa at the weekend. The trading trend just got reverse as compared to last week and sterling remained on the front foot through out.

Copyright Business Recorder, 2005