Mumbai: The Indian currency has recovered its early losses as exporters sell the dollar, as the U.S.

Mumbai: The Indian currency has climbed up to its 9-½ year peak today (Thursday) as ca

Mumbai: The Indian central bank (RBI) has annihilated the anticipations of interest rates alleviation by raising CRR, the sum of money banks must hold in cash, by 0.5 percent (now 7.5%) to drain liquidity regardless of inflation at a five-year low.
But the RBI do not make any changes in the key lending and borrowing rates (repo and reverse repo) and bank rate in the mid-term appraisal of the monetary plan.
Cash Reserve Ratio (CRR) is the amount of cash that is demanded by the banks to park with RBI that does not pay up any interest on such depositions.

Inflation remained the same at 3.07 per cent for week ended October 13, 2007 regardless of increase in costs of food items and a few manufactured products.

Mumbai: According to the market traders, the rupee edged higher on yesterday but its rise was blocked up by RBI that intervened heavily to keep it off 9-1/2-year peaks.

The partially convertible rupee ended at 39.305/310 per dollar, strengthening from Friday's finish of 39.36/37. Last week, it had hit 39.27 -- its strongest level since March 1998.

A senior dealer with a foreign bank said, “The central bank absorbed everything that came its way today without them we would be at 39.20.”

The dealer computes that the RBI has purchased around $80 million to check the rupee’s increase.

Mumbai: The Indian currency was jammed today between prospects that outsi