The Indian rupee lost ground against the U.S. dollar in the morning session on Wednesday, after India’s central bank left its key interest rates unchanged, as widely expected.
The Monetary Policy Committee of the Reserve Bank of India unanimously voted to maintain the policy repo rate at 4.00 percent. The reverse repo rate was retained at 3.35 percent.
The Marginal Standing Facility rate and the Bank rate were also left unchanged at 4.25 percent.
The bank retained its real GDP growth forecast for 2021-22 at 10.5 percent, Governor Shaktikanta Das said at the press conferenc
The Indian rupee declined to 73.90 against the greenback, its lowest level since March 1. The pair had finished yesterday’s deals at 73.49. The rupee is seen finding support around the 75.00 mark.
The material has been provided by InstaForex Company – www.instaforex.com
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