Indian Rupee Falls Against U.S. Dollar After RBI Rate Decision
07 Febrero 2017 - 11:06PM
RTTF2
The Indian rupee weakened against the U.S. dollar in afternoon
deals on Wednesday, after India's central bank kept its interest
rates unchanged again.
The Monetary Policy Committee of the Reserve Bank of India,
headed by Urjit Patel, unanimously decided to hold the key repo
rate at 6.25 percent and reverse repo rate at 5.75 percent. The
bank was widely expected to cut its rates by 25 basis points.
Against the U.S. dollar, the rupee fell to 67.390 from an early
high of 67.268.
If the rupee extends its downtrend, it is likely to find support
around against the 68.00 area.
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