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Central Bank revises NRE and FCNR rates

CHENNAI: Central Bank of India has increased interest rates on NRE and foreign currency non-resident (B) deposits across all maturities with effect from August 1. The interest rates on FCNR-B deposit in U.S. dollar are: for one year to less than two years: 5.54 per cent, for two years to less than three years: 5.44 per cent, for three years to less than four years: 5.42 per cent, four years to less than five years: 5.43 per cent and five years: 5.46 per cent.

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