CALL RATES CLOSE AT 9.25%
Article Abstract:
On October 15, 1998, call rates which opened in the range of 9.15 percent to 9.40 percent finally closed at 9.25 percent, at the inter-bank call money market. With high demand in the call market, RBI's 3-day 8 percent fixed rate repos could not garner any amount and its repos at present have raised only Rs1,500 crore. (gs) >PG 12 >AB The spot rupee which closed at 42.31/32 against the US dollar in the foreign exchange markets on October 15, 1998, has retained the same level of its previous close on October 14, 1998. The spot rupee opened at 42.31/32 against US dollars on October 15, 1998 and marginally appreciated to rule at around 42.28/30 during the day. The appreciation was due to renewed sales of dollars by corporates and exporters. With the intervene of State Bank of India, which entered the market late afternoon to buy dollars, had made the rupee to close at 42.31/32 levels on Oct 15, 1998. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CALL RATES REMAIN STEADY
Article Abstract:
The call rates opened at 9-9.25 percent and closed at 9-9.25 percent on October 14, 1998 in the inter-bank call money market in Mumbai. There was a good demand from the banks. Call rates were firm due to Rs4,462 crore going towards state loan issue. The call rates are likely to remain firm for another few days. (rk)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INTER-BANK CALL MONEY MARKET
Article Abstract:
The call rates were around the fixed repos rate during the week. Most of the repo deals (excluding those of the reserve Bank of India) for 14 days were done at 8.75-9.75 percent. The repos of RBI on September 30, 1998, totalled Rs4,069 crore. At the end of the week, a 7-day repo deal was made at 8.25 percent. (gs)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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