RE FIRMS UP AGAINST $ AT 42.29

Article Abstract:

The rupee value was 42.28/29 against the dollar in the foreign exchange market on October 20, 1998 (42.32/33 on October 19, 1998). The rupee opened at 42.29/30 against the dollar. The demand for dollars was poor. During the day, the rupee was on the rise as only a few banks and companies sold dollars in the market. The 6-month forward premium was 7.88 percent. (ag)

United States, Foreign Currency Management, Foreign exchange

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CALL RATES MOVE UP

Article Abstract:

Call rates closed between 9.25-9.30 percent in the inter-bank call money market on December 9, 1999 due to tight liquidity conditions. Call rates had increased to 9.50-9.75 percent in the morning due to the absence of big banks but eased later in the day. The Reserve Bank of India's open market operations have taken out about Rs2000 crore from the system. (khr)

Banking Institutions, Depository Credit Intermediation, Banks (Finance), Reserve Bank of India

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