15 Hrs
Source:
Sky News
RBI acts to bolster the rupee
The Indian Central Bank announced measures to strengthen the rupee after it declined to its lowest level, including easing government bond purchases and encouraging foreign inflows. At the same time, it decided to keep the interest rate steady at 5.25%, in line with expectations. The governor explained that these measures aim to improve the balance of payments and boost economic growth, with inflation expected to reach 5.1% by the end of the fiscal year. The bank is awaiting greater clarity on inflation before making any changes to interest rates.
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