The Indian central bank left its interest rates unchanged at today’s policy meeting, but this did not prevent the rupee from falling.
The Reserve Bank of India left its main interest rate at 8.25 percent today. The central bank was worried that the slump of the currency may damage inflation. The rupee has fallen about 6 percent against the US dollar this quarter, one of the biggest losers among Asian currencies.
USD/INR rose from 57.5055 to 57.9155 as of 12:07 GMT today.
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