INSUBCONTINENT EXCLUSIVE:
paise on Thursday to close at 69.17 against the US dollar after the RBI cut the interest rate but kept its monetary policy stance "neutral"
In its first bi-monthly policy review for this financial year, the central bank slashed the policy rate by 0.25 per cent for the second time
in a row, following which the rupee and sovereign bond prices tumbled.At the Interbank Foreign Exchange (forex) market, the domestic
currency opened lower at 68.56 per dollar and fell further to touch the day's low of 69.21
It finally settled at 69.17, down 76 paise over its previous close
the policy as less dovish than expectedthe yield on the benchmark 10-year bond was up 6 basis points to 7.34 per cent," said V K Sharma,
currencies overseas also weighed on the domestic unit, forex traders said
strength against a basket of six currencies, rose 0.09 per cent to 97.17.Foreign institutional investors (FIIs) remained net sellers in
RBI lowered GDP growth forecast for 2019-20 and kept its monetary policy stance "neutral" amid uncertainty over monsoon.The 30-share BSE
Sensex index settled 192.40 points, or 0.49 per cent, lower at 38,684.72
Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 68.8446 and for rupee/euro at 77.3878
The reference rate for rupee/British pound was fixed at 90.7675 and for rupee/100 Japanese yen at 61.82.Get the latest election news, live
updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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