The point-to-point wholesale price index (WPI) was 6.58% a year ago.

The WPI rose by 0.1% to 192.6 points due to costlier primary articles, even as fuel and manufactured prices stood unchanged. The index was 184.6 points in the year-ago period. The impact of rise in prices of petroleum goods on inflation will become visible in the coming weeks. The government increased the prices of petrol and diesel with effect from June 21.

The index of mass consumption primary articles' group was up 0.3% to 189.7 points due to costlier food articles and the index was 190.7 points in the year-ago period.

Food articles' group index increased by 0.5% to 191 points owing to higher prices for eggs (6%), vegetables (2%) and fruits, mutton, bajra, arhar, barley and rice (1% each).

External debt up 7.2 per cent at $120.9bn
New Delhi: The country's external debt has climbed 7.2 per cent to $120.9 billion at the end of December 2004, as against $112.8 billion at end-December 2003.

A status report on the country's external debt released on Friday said that long-term debt at the end of December 2004 stood at $114.03 billion or 94.3 per cent of the total debt.

Under long-term debt, multilateral and bilateral debt, representing broadly the loans raised under the external assistance programme, accounted for 41 per cent of the total external debt at end-December 2004.

NRI deposits and commercial borrowings together with export credit contributed little more than one-half of total external debt.

The report highlighted that external debt indicators continued to improve over the years though the magnitude of debt had increased. For instance, the external debt-to-GDP ratio has gradually declined over the years to 17.8 per cent in 2003-04 and debt service payments as a proportion of gross current receipts (debt-service ratio) dropped to 16.2 per cent in 2003-2004 and further to 6.1 per cent during April-December 2004.

Similarly, the ratios of short-term debt to total debt and short-term debt to forex assets too have improved over the years. The country's ability to service external debt has been substantially enhanced, consequent to the improvement in the ratios of total debt service payments and interest payments to current receipts.

24 June 2005

Rupee unchanged; bond prices fall
Mumbai: The rupee remained virtually unchanged against the dollar on Thursday. The rupee opened higher at 43.50 / 51 up from Wednesday's closing of 43.54 / 55. Wednesday had seen an inflow of $337 million.

Due to some dollar selling and the rupee touched an intra-day high of 43.48 / 50 but with inflows not being as per expectations, the rupee fell to end at 43.55 / 56.

In the forward premia market, the 12-month ended at 1.27 per cent (1.29 per cent) and the six-month closed at 1.44 per cent (1.42 per cent).

In the bond market, prices opened 20-25 paise higher than Wednesday's closing but fell on profit booking.