DULL TRADE IN FOREX MARKET

Article Abstract:

The spot rupee remained steady against the US dollar in the interbank foreign exchange market on January 29, 1999. The spot rupee which opened at 42.5000/5050 against US dollar on January 29 closed at the same level. As the market witnessed a dull business, the rupee remained range bound at the level 42.4950- 42.5100 during the day before closing at the level of 42.5000/5050 against US dollar. Reserve Bank of India has maintained the reference rate at Rs42.50 per US dollar. (gs)(m)

Sales & consumption, Commodity & service prices, Foreign Exchange Dealers, Commodity Contracts Dealing

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CALL RATES CLOSE AT 8 PERCENT

Article Abstract:

Call rates opened at 8.10 percent and closed at 8 percent in the inter-bank call money market on March 4, 1999. Call rates ruled at 8-8.15 percent levels through out the day. The Reuter Mumbai Interbank Overnight Average closed at 8.11 percent. The 6 percent fixed rate repo conducted by the Reserve Bank of India did not receive any bids as the call rates were ruling high. (khr)

Comment:

Call rates opened at 8.10 percent and closed at 8 percent in the inter-bank call money market on March 4, 1999.

International economic relations, World, Interest Rates

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