Indian Rupee Climbs To Near 3-week High Vs U.S. Dollar Ahead Of RBI Decision
December 06 2016 - 01:21AM
RTTF2
The Indian rupee firmed against the U.S. dollar in evening deals
on Tuesday, as regional shares rose on hopes for a rate cut by the
Reserve Bank of India at its monetary policy review on
Wednesday.
Indian central bank is widely expected to slash repo rate by 25
basis points to 6.00 percent, amid moderation in food inflation and
to prevent the possible slowdown on GDP growth arising from the
rupee demonetization.
The rupee strengthened to 67.77 against the greenback, its
highest since November 17. The rupee is likely to locate resistance
around the 66.00 region.
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