Rupee settled lower against dollar on Thursday even after the Reserve Bank kept the key interest rate unchanged. The Reserve Bank of India, in its second bi-monthly policy for FY24, has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 per cent for second time in a row. The standing deposit facility (SDF) rate remains unchanged at 6.25 per cent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. On the global front, dollar fell slightly on Thursday from near three-month highs, a day after a surprise rate hike from the Bank of Canada suggested the Federal Reserve may also have more work to do to combat inflation.
Finally, the rupee ended at 82.57 (Provisional), weaker by 5 paise from its previous close of 82.52 on Wednesday. The currency touched a high and low of 82.61 and 82.53 respectively.
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