RBI to include yuan, HK dollar in new index

It would reflect growing trade ties within Asia, the governor said in the speech prepared for delivery in Singapore last weekend.

“We have decided to review the REER and accordingly we expect a new six-country index to replace the present five-country one,” he said.

Reddy gave no time-frame for the new index but said the weights of the yuan and the Hong Kong dollar, which are already a part of a larger 36-country REER index, would also rise accordingly.

Also, RBI will soon issue Rs 100 denomination bank notes in the Mahatma Gandhi series without an inset letter in the numbering panel. The new series 2005 bank notes, bearing the Reddy’s signature, will be of the same size. There is no change in the colour/design/images of the banknotes both at the obverse (front) and the reverse (back), rbi said.

On the front side, the security features will comprise a security thread, see-through register, electrolyte watermark, omron anti-photocopying feature and an intaglio print.