NET INVISIBLES INFLOW FALLS BELOW $10 BN
Article Abstract:
The net invisibles inflow fell by 5 percent to $9.8 billion in 1997-98 ($10.32 billion in 1996-97), following a drop in private remittances of foreign currencies into India. The balance of trade fell to $6.7 billion ($5.6 billion in 1996- 97). The private remittances from abroad were $11.83 billion ($12.36 billion). Investment outflows were $3.5 billion ($3.3 billion). Income from travel was $1.47 billion ($2.2 billion). The net transportation outflows were $726 million ($441 million). (gs)
Comment:
India: Net invisibles inflow drops by 5% to $9.8 bil in 1997-98, as against $10.32 bil in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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11.5% FALL IN Re'S PURCHASING POWER
Article Abstract:
The purchasing power of the rupee is likely to fall by 15 percent in 1998-99. In the first 8 months of 1998-99, the value of the rupee has fallen by 11.5 percent - the highest since 1991-92. The consumer price index for industrial workers was 432 (against the 1982 base of 100) in November 1998. Inflation is said to be the cause for the fall in the purchasing power of the rupee. The erosion in the value of the rupee will be 60 percent by March 1999. (rk/kvr)
Comment:
The purchasing power of the rupee is likely to fall by 15 percent in 1998-99.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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RE FALLS 6 PS TO CLOSE AT 42.32
Article Abstract:
The Indian rupee fell by six paise to close at 42.32/33 against the dollar on October 29, 1998. The fall in the rupee is attributed to steady buying of dollars by the State Bank of India (SBI). SBI purchased dollars to pay for the month end dollar remittances. The six month forward premia closed at 7.65 percent per annum. (vv)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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