The Indian Rupee trades flat at 96.37 against the US Dollar after the Reserve Bank of India implemented a 25 basis point repo rate hike to 5.5%, the first such increase since February 2023.
The USD/INR pair is exhibiting muted volatility at 96.37 following the Reserve Bank of India's decision to raise the repo rate by 25 basis points to 5.5%. This move marks the central bank's first tightening action since February 2023, signaling a shift in monetary policy stance that is currently being digested by currency markets.
The RBI increased the repo rate by 25 basis points, bringing it to 5.5%.
The Indian Rupee remained broadly muted against the US Dollar, trading around 96.37.
The Indian Rupee remains stable at 96.37 against the US Dollar following the Reserve Bank of India's decision to raise the repo rate by 25 basis points to 5.5%. This marks the central bank's first interest rate increase since February 2023 as policymakers address current economic conditions.
The USD/INR pair remained broadly muted, trading at approximately 96.37 following the announcement of the 25 basis point hike.