The Financial Express -- Economy

Thursday, November 27 1997

FII sweat and fume as rupee slip and Sensex fall take their toll

The deadly combination of falling rupee, depressed stock markets and year-end redemption pressure has delt a crippling blow to the foreign institutional investors (FIIs). The seven per cent depreciation of the rupee and the over ten per cent fall in the Sensex during the last one month have left their portfolios poorer by a large margin.

Greater elbow-room allowed for LIC on investment of funds

The finance ministry has allowed Life Insurance Corporation (LIC) to liberalise the investment pattern of its group insurance scheme funds. Under the new investment pattern, LIC will be able to invest 60% of such funds in approved market investments. It has also allowed LIC to trade in government securities.

Ramaiah blames currency speculators for rupee slide

The current political impasse arising over the United Front-Congress standoff on dropping the DMK from the cabinet following the Jain commission report on Rajiv Gandhi assassination had led the rupee slide to an intra-day record of 38.55 on Monday against the dollar. It subsequently recovered on RBI intervention to close at 38.07/38/12. Yesterday, however, it slid further to end at Rs 38.30/38.33 against the dollar.

Rupee crashes to 38.60

Nawaz Sharif inaugurates dream motorway in Pakistan

VDIS declarants need to furnish proof on silver items acquisition year

Financial Briefing -- 20th Century, Canada firm sign pact

Automobile sales trip in October

RBI jacks up export credit rate beyond 90 days

FII sweat and fume as rupee slip and Sensex fall take their toll

Ramaiah blames currency speculators for rupee slide

Japan woes bog Asian currencies

Japan mulls using public funds for financial system

Greater elbow-room allowed for LIC on investment of funds

Yamaichi rattles Japan's finance sector