The Financial Express -- Economy

Monday, December 8 1997

$3 billion flow seen as rupee slide fear recedes

The pressure on the rupee is expected to ease substantially over the next few weeks as bankers believe that an estimated $3-5 billion will flow into the country. Thanks in part to the Reserve Bank of India's two-pronged approach -- intervention and policy measures -- over the last few weeks, the slide of the currency has already been reversed. After touching an all-time low of Rs 39.85-90 on December 1, in the next four days the rupee worked its way up to close at Rs 38.90 on December 5.

Dubai gold traders pin hopes on demand revival from India

Indian gold import demand is expected to hold up this month on the back of seasonal wedding demand, low bullion prices and fresh political uncertainty in India. Dubai is the main supplier to India, the world's largest consumer of the yellow metal. Some 80-85% of the 500-plus tonnes imported into Dubai this year will end up in India through official and unofficial channels.

Vajpayee vows to continue economic reforms

Former prime minister and Bharatiya Janata Party (BJP) leader Atal Behari Vajpayee has indicated that his party, if it comes to power at the Centre, will make certain changes with regards to implementation of the economic liberalisation policy. While a broad-based economic manifesto would be announced at the party's preliminary meeting at Bhubaneswar on December 18, 19 and 20, he said that the party's economic policy would be based on twin objectives -- swadeshi and self reliance.

Poor growth in credit offtake bugs RBI

Ministry, FIs in talks to make PPAs bankable

Cell operators to approach TRAI for hike in rentals

Financial Briefing -- Jalan to meet FIs' chiefs today

Inflation rate dips to 3.35%

Forum seeks to direct country at crossroads

$3 billion flow seen as rupee slide fear recedes

Foreign travellers allowed limited use of international credit cards

Centre lines up more sops for prospective Internet services

Vajpayee vows to continue economic reforms

Oil sector credit leaps 125% to Rs 3,375 crore

FI sanctions dip 14% to Rs 57,000 crore