India’s Rupee traded almost unchanged against the US dollar (USD/INR) following the RBI interest rate decision. At the interbank market, the value of Rupee depreciated by 7 paise settling down -0.09% at 71.25 against the US dollar. However, the USD/INR exchange rate was seen trading on Thursday within a trading range of 71.28 and 71.08.

The Reserve Bank of India kept the benchmark interest rate unchanged at 5.15% amid increased concerns due to higher inflation and increased fiscal deficit. All MPC members voted unanimously to keep the status quo on policy rates. At the same time, the RBI revised upwardly its inflation forecast to 6.5% for the final quarter of FY 2019-2020 and between a range of 5.4%-5.0% for the first half of FY2021.

The six-member committee kept the economic growth forecast unchanged at 5.0% for the current fiscal year respectively at 6.0% for the next fiscal year starting April 1.

In other news, the market risk appetite continues to find support, however, the coronavirus fears that plagued the financial markets remains a possible catalyst in the background that can disrupt the market volatility

The dollar index, which gauges the greenback’s strength against a basket of major currencies, closed up for the fourth consecutive day settling up 0.22% at 98.48.

Elsewhere, foreign institutional investors (FIIS) were net sellers of shares in the local equity market worth Rs -560.36 crore; according to the National Stock Exchange of India data published at the end of Thursday’s trading session. On the other hand, Domestic Institutional Investors (DIIs) were net buyers of equities worth Rs 304.01 crore.

The domestic benchmark equity index NIFTY 50 continued to point upwards and posted gains for 4 consecutive days. On Thursday, the local equity market settled up 0.40% at 12137.95. However, during early Asia trading hours on Friday, Indian shares were down 0.31% at 12,100.90.

The Indian 10-year government bond yield was seen quoted at 6.42% in morning trade compared with its previous close of 6.45%.

Currently, at the interbank market, one US dollar buys 71.27 Rupees, (USD/INR) up 0.04% as of 8:00 AM UTC. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.