Rupee remains passive even as India's stocks shot up higher after RBI decision
Published:
February 05, 2021 09:14
Last updated:
February 05, 2021 14:24
Gulf News Report
Rupee's sticking to a range now, even as NRIs wait for it to go back to 20 and over to a dirham.
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Dubai: Indian expats in the UAE will have to make do with the rupee at 19.75-19.87 levels for now, with India’s central bank retaining interest rates at 4 per cent.
“The RBI did what was widely expected and maintain its accommodative stance on rates,” said a senior official with the treasury operations at LuLu Exchange. “We feel that in the near future - i.e., for a week - the rupee might not go below 72.75 and might test 72.35 on the other side, which translates to 19.76-19.98 against the dirham.”