Rupee weakens by three paise against dollar after RBI’s decision to keep interest rates unchanged

by Ana Lopez

Mumbai: The rupee ended the session marginally lower by three paise at 81.93 as the Reserve Bank of India decided to keep the benchmark interest rate at 6.5 per cent today after the domestic forex market traded sideways against the dollar. However, despite an improvement in the dollar index in the global exchange market today, the decline in the rupee remained limited due to a bullish trend in Brent crude oil futures and local equity markets, sources said. According to market instruments, the rupee opened at a low of 81.95 against yesterday’s close of 81.90 against the dollar in the local forex market today, after trading at a low of 82.06 and a high of 81.83 during the session before ending the session at 81.93, down three paise from yesterday’s close. was The Reserve Bank of India has decided to keep the interest rate unchanged at the level of 6.5 percent at the end of today’s meeting after increasing the interest rate by 250 basis points at the end of six consecutive monetary policy review meetings since last May 2022 to control rising inflation.

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