KKI weekly market review

Khanani & Kalia International (Pvt) Limited Weekly Market Review on Sunday (July 08, 2007).
RUPEE/US DOLLAR: The national currency shed significant grounds against greenback in the open market this week amid surge in demand of dollar. The American dollar opened new week's trading at Rs 60/90 on Monday, recovered grounds and was changing hands at Rs 61/07 at close of markets on Saturday.
Thus, the local currency lost 0/10 paisas versus greenback in the kerb dealings. On the international desk, the dollar gained instantly after a report from the Labour Department showed the US economy added more jobs than expected in June. US non-farm payrolls came out at 132k, better than the forecast of 120k. Following the robust job report, the euro fell to 13570 versus the dollar, while the sterling slipped to as low as 2.0060.
RUPEE/EUROThe 13-nation currency remained in both territories upward and downward against rupee in the kerb this week. However, rupee remained unchanged versus the single currency at close of markets. Euro kicked off new week's trading at Rs 82/60, went down in the middle but made a come back and remained at the same price at close of markets on Saturday.
RUPEE/POUND STERLINGRupee made a recovery against pound sterling in the kerb market dealings. The cable set off new week's trading at Rs 122/20 and on Saturday was trading at Rs 121/90 at close of markets. Thus, rupee recovered 0/30 paisas against British Pound.