THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications
Wednesday, October 18, 2000
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Money

Economy
Real economy and markets are different
THE slowdown is official. The Reserve Bank of India, in its Credit Policy statement last week, revised GDP growth downwards to 5.8 per cent from 7 per cent. Both agriculture and industry suffered setbacks.

Forex
RBI's inexplicable forex swaps
CAN one believe that the Reserve Bank of India purchased as much as $ 10 billion in the four months up to August 2000? That is, was the RBI a dollar buyer - that too of as much as $ 10 billion - even as the rupee was under substantial pressure in the ver y same period?

Lacklustre trading
MUMBAI: THE forex market witnessed lacklustre trading on Tuesday and the rupee closed marginally stronger at 46.31/33 as against Monday's close of 46.32/34.

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