Indian Rupee Appreciates Against U.S. Dollar As RBI Pauses Interest Rate Hike
(RTTNews) - The Indian rupee firmed against the U.S. dollar in afternoon deals on Thursday, as India's central bank decided to leave its key interest rates unchanged, but signalled willingness to act as required in the future.
The monetary policy committee of the Reserve Bank of India unanimously voted to keep the policy repo rate unchanged at 6.50 percent. Markets widely expected a quarter-point increase.
The standing deposit facility rate remained unchanged at 6.25 percent and the marginal standing facility rate and the Bank Rate at 6.75 percent.
The rupee touched 81.82 against the greenback, its highest level since March 13. The currency is seen facing resistance around the 79.00 level.
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