Indian Rupee Edges Up Against U.S. Dollar After RBI Rate Cut
2019年8月7日 - 12:43PM
RTTF2
The Indian rupee advanced against the U.S. dollar in the
afternoon session on Wednesday, after the Reserve Bank of India
lowered its key interest rate for the fourth straight time and
retained its 'accomodative' stance to support subdued economic
growth.
The Monetary Policy Committee of the RBI, governed by
Shaktikanta Das voted to reduce the key rate by 35 basis points to
5.40 percent. The reverse repo rate was adjusted to 5.15
percent.
Policymakers also decided to maintain the accommodative stance
of monetary policy.
The decisions were taken in consonance with the objective of
achieving medium-term inflation target, while supporting growth,
the bank said.
The rupee rose 0.5 percent to 70.61 against the greenback from
Tuesday's closing value of 70.97. Next key resistance for the rupee
is seen around the 68.05 level.
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