RTN:Indian Rupee Steady Against Dollar As RBI Hikes Rate By 25 Bps
(RTTNews) - As widely expected, the Reserve Bank of India hiked the repo and reverse repo rates by 25 basis points each to 7.5 percent and 6.5 percent, respectively on Thursday.
The Indian rupee that reached as low as 44.93 against the US dollar immediately following the rate decision moved in a sideways pattern thereafter. The pair is presently hovering near the 44.90 level, compared to 44.84 hit late New York Wednesday.
