In this light, improvement in policy-framework, regulatory regime, market-perceptions, and indeed, popular sentiments relating to governance in banks need to be on the top of the agenda to serve our society’s needs and realities while being in harmony with the global perspective. Thank you. BIS Review 66/2004  3
Higher domestic inflation has offset the gains emanating from nominal depreciation and the real exchange rate, measured in terms of the real effective exchange rate (REER) index, appreciated slightly by 2.5 percent during first three quarters of FY07.