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RBI keeps key lending rates on hold
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SME Times News Bureau | 02 Feb, 2016
Ahead of the federal budget for the next fiscal, India's central bank on Tuesday kept its key lending rates unchanged in line with stake-holders' expectations.
The Reserve Bank of India (RBI) kept the repo and reverse repo rates unchanged during its sixth and the fiscal's final bi-monthly monetary policy review.
Ignoring the clamour for an easing of monetary policy, as an instrument to boost the fledgling economic growth, India's central bank maintained its short-term lending rates.
The repurchase rate, or the short-term lending rate of the central bank, remains unchanged at 6.75 percent and so does the cash reserve ratio (CRR), or the liquid money banks have to compulsorily hold, at 4.00 percent.
Accordingly, the reverse repo rate, or the central bank's short-term borrowing rate, remains at 5.75 percent.
The Indian equity markets dipped immediately after the RBI came out with its final policy review for the fiscal. The barometer-- sensitive index (Sensex) of the Bombay Stock Exchange (BSE) plunged by 55 points.
The S&P BSE Sensex, which opened at 24,868.21 points, was trading at 24,770.26 points (11.10 a.m.) -- down 55 points or 0.22 percent from the previous day's close at 24,824.83 points.
Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading in the red. It inched down by 20 points, or 0.26 percent, at 7,536.30 points.
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yes i accept because we do not enough US$ reserve
Rajeshkumar.M.N | Wed Feb 3 15:49:56 2016
The equity will be further down but still we will get more than 30% per annum as dividend this is 22% per annum more than the fixed deposit interest rate. In this way we able to manage 8% devaluation of Indian rupee towards medicine, provisional items, sanitary items, vegetables etc.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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