Forex Market News

USDINR Trading Range For The Day Is 63.99-65.06.

Rupee hit a more than 1-1/2 year high after RBI held its policy rate and expressed concerns about inflation, raising expectations it would no longer cut rates this year. The RBI held the repo rate at 6.25 percent, as widely expected, and raised its inflation forecasts, increasing expectations it could even tighten should prices accelerate. The RBI slightly raised its inflation projections for the year started in April, saying it expected the consumer price index to average 4.5 percent in the first half
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