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Investment in Overseas Markets

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....2002 A.P.(DIR Series) Circular No.38 To All Authorised Dealers in Foreign Exchange Madam/Sirs, Investment in Overseas Markets Attention of authorised dealers is invited to item (i) of paragraph ....

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....loyed FCNR (B) funds in overseas markets in long-term fixed income securities rated at least AA by Standard and Poor, or Aa3 by Moody's or AA by Fitch IBCA. 3. All other instructions contained in A.....