Shortpedia Mobile App Download Shortpedia News App

Image Credit: Shortpedia

Rupee breaches 74 mark as RBI keeps repo rate unchanged at 6.5%

Contrary to expectation, the Monetary Policy Committee of RBI decides to keep the repo rate unchanged at 6.50 per cent and changed the stance from neutral to calibrated tightening. RBI held its fourth MPC meeting of FY19 amid depreciation in the rupee, rising crude oil prices, intense pressure on CAD and liquidity issues. Following this rupee hit the 74 vs dollar mark for the first time and touches an all-time low of 74.10.