BOMBAY: The Reserve Bank of India keeping in view of the present levels of interest rates in the overseas markets, has announced changes in the interest rates in the overseas markets, has announced changes in the interest rate structure for the U.S. dollar and Deutsche Mark deposits under the foreign currency (nonresident) accounts scheme.
‘The interest rates for U.S. dollar deposits have been reduced by 0.25 percent for maturity periods of six months and above but less than one year, and for one year and above, but less than two years.
For Deutsche mark deposits, the interest rate has been reduced by 0.25 percent for a maturity period of six months and above, but less than one year.
For maturity periods of two years and above, but less than three years, and for three years only, interest rates have been increased by 0.25 percent. There is no change in interest rates for pound sterling and Japanese yen deposits, a PTI press release said here.
Article extracted from this publication >> December 22, 1989
