USD/INR remains broadly muted after RBI’s 25 bps hike in Repo Rates to 5.5%
The Indian Rupee ((INR) remains broadly muted at around 96.37 against the US Dollar (USD) after the Reserve Bank of India’s (RBI) monetary policy decision. In the policy meeting, the RBI decide to hike its Repo Rate by 25 basis points (bps) to 5.5%, the first hike since February 2023.