Indian Rupee Off 1-1/2-month High Against U.S. Dollar After RBI Decision
August 05 2021 - 9:05PM
RTTF2
The Indian rupee pulled back against the U.S. dollar in late
morning deals on Friday, after India's central bank left its key
interest rates unchanged and vowed to continue its accommodative
stance as long as necessary.
The Monetary Policy Committee of the Reserve Bank of India
unanimously voted to hold the benchmark policy rate at 4.00
percent. The reverse repo rate was retained at 3.35 percent.
The Marginal Standing Facility rate and the Bank Rate were also
left unchanged at 4.25 percent at the meeting.
The Indian rupee retreated to 74.12 against the greenback, after
touching 73.97, which was its highest level since June 23. On the
downside, 76.00 is possibly seen as its next support level.
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