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Drumbeat: Ad Buzzaar
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Friday, July 17, 1998
Executive Briefing
RBI may change export credit rules, says bankers: The Reserve Bank is likely to change its rules governing cheap credit to exporters following complaints from trading houses, bankers said on Thursday. Exporters are, at present, entitled to pre-shipment export credit at 11 per cent per annum. Bankers said they had met the RBI and suggested alternatives because the existing scheme was not viable.Rupee ends firmer, but off highs: The rupee ended Thursday firmer than its Wednesday's close but off intra-day highs after market players discounted news of further easing of economic sanctions, dealers said. The rupee ended at 42.54/56 a dollar against Wednesday's close of 42.59/60. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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