Rupee falls 10 paise to close at 74.94 Vs Dollar after RBI policy outcome
Rupee falls 10 paise to close at 74.94 Vs Dollar after RBI policy outcome
Share:

On Thursday, the rupee fell 10 paise to close at 74.94 (provisional) against the US dollar after the Reserve Bank of India kept key policy rates unchanged and stated that it will maintain its accommodative stance.

For the tenth time in a row, the RBI kept the benchmark lending rate at 4 percent unchanged. The Monetary Policy Committee decided to maintain the reverse repo rate at 3.35 percent.

The rupee opened at 74.90 against the US dollar on the interbank foreign exchange, with an intraday high of 74.88 and a low of 75.05 against the greenback. The local currency finished the day at 74.94, down 10 paise from the previous close of 74.84. Meanwhile, the dollar index, which measures the strength of the US currency against a basket of six currencies, was 0.01 percent lower at 95.48.

In the absence of a hike in reverse repo – the rate at which it absorbs cash from banks – the benchmark 10-year bond yield and rupee fell, while domestic equities rose. The 30-share Sensex ended 460.06 points or 0.79 percent higher at 58,926.03, while the broader NSE Nifty ended 142.05 points or 0.81 percent higher at 17,605.85. Brent crude futures rose 0.14 percent to USD 91.68 per barrel, the global oil benchmark.

According to stock exchange data, foreign institutional investors continued to be net sellers in the capital market on Wednesday, offloading shares worth Rs. 892.64 crore.

Sensex rises by 460 pts as RBI maintains its key interest rates

BSE receives in-principle approval from the Sebi to introduce EGR.

Shaktikanta Das sees Pvt crypto as a major danger to macroeconomic, financial stability

Join NewsTrack Whatsapp group
Related News