16 Jul 2018 | 2:33 AM
Research Report

Currency Research Report: Weekly Report: Forex

The Indian rupee lost marginally against the U.S. dollar, as importers’ greenback demand outweighed gains from fading expectations of an early interest rate hike by the Federal Reserve. The Reserve Bank of India (RBI) cut its policy interest rate by 25 basis points to 6.50 percent, reducing it to a more than five-year low while dangling the prospect of another cut later this year if inflation trends stay benign. Although rates are now at the lowest since 2011, the RBI said its policy would remain "accommodative", raising the prospect of another 25 bps rate cut later this year, saying inflation was moving towards its 5 percent target in March 2017. Its next target will be 4.2 percent by March 2018
11 Apr 2016 | 06:21 PM