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Currency Research Report: Daily Currency Report

Indian rupee opened the session with a marginal loss of 22 paisa at 62.05 per dollar and extended its losses to more than quarter a percent after the RBI policy disappointed the markets.
23 Sep 2013 | 09:20 AM

  • Indian rupee opened the session with a marginal loss of 22 paisa at 62.05 per dollar and extended its losses to more than quarter a percent after the RBI policy disappointed the markets.
  • In his first credit policy since taking over the post of RBI governor earlier this month, Raghuram Rajan, hiked the key policy repo rate by 25 bps to 7.50 percent. Meanwhile, CRR was kept unchanged at 4.0 percent.
  • RBI also lowered marginal standing facility rate by 75 bps to 9.50 percent and has slashed banks' minimum daily cash reserve requirement to 95 percent of deposits from 99 percent.

 

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