All
Authorized Dealers
in
Foreign Exchange and Investment. Banks
Holding
restricted Authorised Dealer’s Licence
Dear Sirs,
Please
refer to paragraph 3 of F.E. circular No.13 of 1999 and
Circular letter No. 15/FEP-16 (326) Q-Poly-99 dated the
5th June, 1999 regarding of placement of foreign currency
deposits, mobilized in terms of F.E. Circular No.25 of 1998,
with the State Bank.
2.
The applicable rates of remuneration of deposits placed
with the State bank during the month December. 2000 will
be as under:-
i) One Week 4%
ii) One month 4.25%
iii) three months 4.50%
3.
It is added for your information that the Foreign Exchange
reserves of the State Bank as on 30 November, 2000 amount
to US$ 1,336.1 million. The net cumulative placement with
the State Bank of foreign exchange made in terms of the
above Circular amounts to US$ 481.70 million on the same
date