USDINR trading range for the day is 64.43-64.72. Rupee ended flat on selling by oil importers and nationalised banks including State Bank of India, Bank of India and Bank of Baroda.
RBI’s policy committee wants more evidence that inflation has sustainably fallen below its target before deciding whether to lower interest rates. The RBI issued a slightly less hawkish statement after consumer inflation eased to 2.99 percent in April.
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