Rupee surges 23 paise to 75.80 against US dollar post RBI policy decision
PTI, Apr 8, 2022, 11:08 AM IST
The rupee advanced 23 paise to 75.80 against the US dollar in the opening trade on Friday, amid the Reserve Bank of India maintaining status quo on the benchmark lending rate.
Announcing the monetary policy, RBI Governor Shaktikanta Das said the Indian economy has large forex reserves and that it stands ready and resolute to defend the economy.
At the interbank foreign exchange, the rupee opened at 75.99 against the US dollar, gained further momentum and touched 75.80 against the American currency, registering a rise of 23 paise from the previous close.
On Thursday, the rupee declined 19 paise to close at 76.03 against the US dollar.
This is the 11th time in a row that the Monetary Policy Committee (MPC) headed by Das has maintained status quo and left benchmark lending rate unchanged at 4 per cent.
RBI had last revised its policy repo rate or the short-term lending rate on May 22, 2020 in an off-policy cycle to perk up demand by cutting the interest rate to a historic low.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.13 per cent to 99.87.
Global oil benchmark Brent crude futures fell 0.61 per cent to USD 99.97 per barrel.
On the domestic equity market front, the 30-share Sensex was trading 114.86 points or 0.19 per cent lower at 58,920.09 points, while the broader NSE Nifty fell 26.20 points, or 0.15 per cent, to 17,613.35 points.
Foreign institutional investors remained net sellers in the capital market on Thursday as they offloaded shares worth Rs 5,009.62 crore, according to stock exchange data.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
“FM ji FM ji, itna tax main kaise bharun”, asks investor Vijay Kedia in viral post
RBI: After another status quo year, all eyes on a growth-propping rate cut with new Guv at helm
Front-running case: Sebi bans 9 entities from market , impounds illegal gains of over Rs 21 crore
Global trends, FIIs’ move to dictate trends in markets in holiday-shortened week: Analysts
GST Council postpones decision to cut tax on insurance, rate panel defers report submission
MUST WATCH
Latest Additions
TTD sub-temple in Tarigonda receives golden crown donation
Murder accused hurls slipper at judge in Thane court; booked
Karnataka: Nine Lord Ayyappa devotees suffer burn injuries in LPG cylinder blast
Record govt jobs provided in one, one and a half years: PM Modi
Man arrested in Kasaragod operated as terror sleeper cell, plotted assassination of Hindu leaders
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.