Indian Rupee Falls Against U.S. Dollar After RBI Rate Announcement
April 05 2018 - 2:04AM
RTTF2
The Indian rupee declined against the U.S. dollar in evening
deals on Thursday, after the Reserve Bank of India kept its key
interest rates unchanged for the fourth straight meeting.
At the first bi-monthly monetary policy session, the Monetary
Policy Committee of the Reserve Bank of India decided to hold the
repo rate at 6.00 percent, the lowest since 2010.
The reverse repo rate was retained at 5.75 percent. The bank had
lowered the rates by 25 basis points at its meeting in August
2017.
The rupee that closed Wednesday's trading at 65.02 against the
greenback declined to 65.21. If the rupee falls further, 67.00 is
seen as its next support level.
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