July 16, 2001The Reserve Bank of India’s Reference Rate for the US dollar is Rs.47.16 on 16.07.2001. Based on the Reference Rate for US dollar and middle rates of the cross currency quotes at 12 noon, the exchange rates of major currencies against the rupee are given below : Date CURRENCY 1 USD1 GBP1 EURO100 YEN13 July, 200147.160066.160840.173237.9916 July, 200147.160065.962740.335937.7500Note : The reference rate is based on 12 noon rates of a few select banks in Mu

The results of the RBI Repo/Reverse Repo auctions held on July 16, 2001 are :ItemRepo Auction (Sale of securities by RBI)Reverse Repo Auction (Purchase of securities by RBI)1. Applications received for one day repo period: (i) Number (ii) Amount (Face value in Rs. crore) Nil NA 1 202. Applications accepted for one day repo period: (i) Number (ii) Amount (Face Value in Rs.crore) (iii) Cut-off Rate (per cent) NA NA NA 1 20 8.503. Weighted average Cut-off Rate (per cent)

The Advisory Group on 'Payment and Settlement System' has recommended a set of actions including establishment of a clearing agent abroad by the Clearing Corporation of India (CCI), institution of a separate guarantee fund for the foreign exchange clearing, appropriate integration between the participating banks and the CCI and their interface with the real-time gross settlement (RTGS) system. It may be recalled that a Standing Committee on International Financial Sta

The Reserve Bank of India under the Scheme of Liquidity Adjustment Facility, has announced one day repo auction and reverse repo auction in Government of India dated securities and treasury bills of all maturities of 91, 182 and 364 day Treasury Bills on July 17, 2001 (Tuesday) for scheduled commercial banks and Primary Dealers holding SGLAccount and Current Account with it at Mumbai. The eligible banks/institutions may submit separate applications before 10.30 a.m. o

(Amount in Rupees crore and rate in per cent per annum)1. Call/Notice Money Market* (i) Volumes BanksPrimary DealersNon-Bank InstitutionsTotalBorrowings8034.008866.00 16900.00Lendings8294.001572.005229.2415095.24(ii) Interest RatesBorrowingsLendings (a)Weighted average rate7.457.45 (b) Range of rates6.43- 8.456.80- 8.452 Term Money Market*Volume(Turnover)Range of RatesBorrowings -Lendings -3. Standing Liquidity Facility Availed from RBI $ Amount (outstanding)Rate of I

The Government of Gujarat have announced the sale of 10 year Stock to the public by auction for an amount Rs.190 crore. The auction will be conducted by Mumbai (Fort) Office of the Reserve Bank of India on July 20, 2001. Tenders should be submitted in the prescribed form at that Office on Friday, July 20, 2001 before 14.30 hrs. Results will be announced the same evening. Payment by successful bidders will be on Monday, July 23, 2001.Alpana Killawala General ManagerPre

--------------------------------------------------------------------------- Loan Nomenclature Amount Price * YTM % Code (Face Value) Per Rs.100 Indicative (in Rs.Crore) nominal --------------------------------------------------------------------------- I. Outright Transactions A.Government of India Dated Securities Contract Date : July 11, 2001 94003 12.50 % 2004 10.00 111.70 7.6127 00016 11.40 % 2008 15.00 115.26 8.5003 00017 11.50 % 2011 15.00 114.37 9.3061 00017 11

The Reserve Bank of India has announced the auction of 91 day Government of India treasury bills for a notified amount of Rs.250 crore. The auction will be conducted using 'Uniform Price Auction' method. The allocation to non-competitive bidders will be outside the notified amount, at the discretion of the Bank. The sale will be subject to terms and conditions specified in the General Notification No.F.2(12)-W&M/97 dated 31 March 1998 issued by Government of India

The Reserve Bank of India under the Scheme of Liquidity Adjustment Facility, has announced one day repo auction and reverse repo auction in Government of India dated securities and treasury bills of all maturities of 91, 182 and 364 day Treasury Bills on July 16, 2001 (Monday) for scheduled commercial banks and Primary Dealers holding SGLAccount and Current Account with it at Mumbai. The eligible banks/institutions may submit separate applications before 10.30 a.m. on

--------------------------------------------------------------------------- Loan Nomenclature Amount Price * YTM % Code (Face Value) Per Rs.100 Indicative (in Rs.Crore) nominal --------------------------------------------------------------------------- I. Outright Transactions A.Government of India Dated Securities Contract Date : July 10, 2001 94003 12.50 % 2004 10.00 111.46 7.7100 00016 11.40 % 2008 5.00 114.75 8.5895 01007 9.39 % 2011 5.00 101.29 9.1891 00017 11.50