CALL RATES FALL TO EQUAL REPO AT 8%
Article Abstract:
The call rates on December 17, 1998 dropped to close at the Reserve Bank of India's (RBI) repo rate level of 8 percent. The call rates, which opened at 8.5 percent, declined due to excessive money supply and lack of interest from borrowers. The borrowers at the opening were ready to pay 8.25 to 8.4 percent, but lenders insisted on 8.5 percent. By the end of the day some transactions were carried out at below 8 percent. The transactions in repo deals amounted to Rs2,100 crore. (um)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CALL RATES CLOSE HIGHER AT 8.25 PER CENT
Article Abstract:
The call rates were 8.25-8.40 percent in the inter-bank call money market on December 14, 1998. The call rates opened at 8- 8.05 percent and rose to 8.25 percent. The rise was due to the tightening of liquidity because of the outflow of Rs5,000-6,000 crore from the system resulting from payment of the advance tax. The Reserve Bank of India was able to raise just Rs49 crore from the market. This indicated a fall in the total dues to Rs370 crore. (ag)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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RBI CUTS FIXED REPO RATE BY 1 PER CENT
Article Abstract:
The Reserve Bank of India has reduced the interest rate on fixed-rate repos by one percentage point from six percent to five percent on June 13, 1998. This is likely to increase the prices of government securities. Banks are likely to focus attention on short-term government securities. The six month forward premium is likely to decline due to reduction in the repo rate. (vv)
Comment:
India: Reserve Bank of India reduces interest rate on fixed-rate repos by 1 percentage point from 6% to 5% on 6/13/98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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