THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications
Friday, September 22, 2000
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Money

Forex
RIBs: NRI focus could constrain flexibility
IOC abstaining from the international markets (and instead State Bank of India fronting for IOC) is indicative not only of the poor state of financial risk management capabilities in the public sector. At another level, it also points to the loss of flex ibility in liability management, which otherwise could be available - that is, if IOC were to directly tap the markets.

IOC's absence points to deeper malaise
A DECISION to access the international capital markets to strengthen external sector liquidity (in the wake of the oil crisis) appears to have been taken.

Re gains marginally
MUMBAI: THE rupee on Thursday gained marginally against the dollar ending the day at 46.19/21 as against Wednesday's close of 46.23/25.

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