CALL RATES SPURT ON FUND JITTERS
Article Abstract:
Uncertainty over short-term liquidity and aggressive open market operations of the Reserve Bank of India led to an increase of over 100 basis points in call rates in the money markets on March 15, 1999. There are fears that call rates will shoot up further as advance tax payments are scheduled to take place in a few days. Dealers said that a few big banks did not lend on March 15, 1999 and this led to borrowing banks taking money at higher costs. As a result of this call rates increased to 9.50-9.75 percent after opening at 8.75 percent. (khr)
Comment:
Uncertainty over short-term liquidity and aggressive open market operations of the Reserve Bank of India led to an increase of over 100 basis points in call rates in the money markets on March 15, 1999.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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RUPEE FIRMS UP AT 42.45
Article Abstract:
The rupee firmed up by a couple of paise and closed at 42.445/45 against the dollar on February 12, 1999 in the foreign exchange market. Dealers said that the day's trade was stable and that the State Bank of India bid for the dollar at a constant rate of 42.445. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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