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USD/INR Declines Following Thursday’s Interest Rate Cut

February 8, 2019 at 12:58 by Vladimir Vyun

A heap of 500-rupee banknotesThe Indian rupee traded higher versus the US dollar today following yesterday’s unexpected interest rate cut by the Reserve Bank of India.

India’s central bank cut its policy repo rate by 25 basis points to 6.25% yesterday. Most analysts did not expect such move. The Monetary Policy Committee also shifted its hawkish stance:

The MPC also decided to change the monetary policy stance from calibrated tightening to neutral.

USD/INR fell 0.2% to $71.3125 as of 12:46 GMT today.

If you have any questions, comments or opinions regarding the Indian Rupee, feel free to post them using the commentary form below.

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