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Sunday, July 18, 1999

Forex Update

Carryforward rates vault to 21 per cent on BSE
The badla rates vaulted to an average 21% on the Bombay Stock Exchange (BSE) as net long positions shot up to Rs 1350 crore from Rs 1179 crore last week.

Silver further down on low industrial demand
Gold and silver prices ruled weak on the bullion market here today. Silver .999 fell by Rs 20 at Rs 7,895 per kg. Silver .916 was down by Rs 5 at Rs 7,770 per kg in sympathy.

`End of Kargil conflict will help forex reserves grow'
Strong dollar inflows following the withdrawal of infiltrators from Kashmir will help the Reserve Bank of India (RBI) rebuild its foreign exchange reserves, dealers said on Saturday.





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