Bank economists have told the Reserve Bank of India that there is no immediate need to raise the repo rate or change the monetary policy stance. This advice is based on inflation remaining within the central bank’s tolerance band. The RBI has alternative tools to manage currency pressures.
Rupee slips 9 paise as dollar demand keeps up pressure
The rupee closed at 96.35, nine paise weaker from its previous close of 96.26 as consistent dollar demand continued to pressure the currency. The currency