BOMBAY (PTI): The reserve bank of India (Rbi) Dec 24 cut interest rates for Deutsche mark and Japanese yen deposits under the foreign currency (nonresident) accounts scheme and foreign currency (nonresident) accounts (banks) scheme keeping in view. The present level of interest rates in the overseas markets.
According to an RBI release here the interest rates for Deutsche mark deposits Havdan Adey 0.25=034:3,5-3 points for maturity periods of two years and above but less than three years and for three years only. The interest rates for Japanese yen deposits have been reduced by 0.25 percentage points across the board. The RBI has not effected any change in the interstates for pound sterling and US dollar deposits.
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