INR surrenders early gains after RBI leaves rates unchanged at 5.25%
Mumbai, Aug. 5 -- The Indian rupee gave back some gains following RBI decision to hold rates unchanged in its MPC decision on Wednesday. INR opened at Rs 94.90 per dollar and hit a high of 94.89 before the decision but slipped to a low of 95.11 post decision. RBI governor Sanjay Malhotra-led Monetary Policy Committee (MPC) announced its decision to keep repo rate unchanged at 5.25%. The Reserve Bank of India kept key interest rates unchanged for the third time in a row as it weighed the impact of uncertain energy prices and supply disruptions caused by the ongoing West Asia crisis. Announcing the third bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously d...
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