Rupee loses 5 paise against US dollar, RBI meeting to conclude today.
Rupee loses 5 paise against US dollar, RBI meeting to conclude today. The Rupee today depreciated by 5 paise against dollar to 64.12 as the dollar found buying traction amid importers ahead of RBI policy decision.
The six-member Monetary Policy Committee headed by RBI governor Urjit Patel concludes today. The outcomes keenly awaited by all stakeholders. Bankers are expecting RBI to change its monetary stance and cut lending rates by a minimum of 0.25%.
Domestic equities are soaring sky high and the dollar’s weakness against other currencies overseas has been the leading cause of rupee’s fall.
A fresh high in the last two and a half month was witnessed yesterday, as the rupee opened at 64.07 against US dollar. This appreciating value of 12 paise gives hopes to rate cut by the RBI.
—PTC News
