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    RBI to exporters: Convert 50% dollar holdings into rupee

    the Reserve Bank of India has asked exporters to convert 50% of their dollars held in Exchange Earner's Foreign Currency (EEFC) accounts into rupee. The central bank has also ruled that exporters can henceforth access the forex market for buying dollars only after they have utilized the balance in their EEFC accounts.

    first published: May 10, 2012 10:16 am

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