The Indian rupee opened flat against the U.S. dollar on Friday after the Reserve Bank of India kept policy rates unchanged at 6.5% on Thursday.
The local currency opened flat at Rs 82.96 against the greenback, according to Bloomberg data.
The MPC voted to remain focused on the withdrawal of accommodation. MPC voted to keep its stance unchanged with a 5-to-1 majority.
“As of Feb. 7, the Indian rupee remained stable compared to its peers in the emerging market and a few advanced economies,” the RBI governor said while presenting the monetary policy statement.
“The Indian rupee exhibited the lowest volatility in FY24. The relative stability of the rupee, despite a stronger US dollar, reflects the strength and stability of the economy,” he said.
“Flows into the country continued taking rupee upto Rs 82.88 before RBI bought dollars and it is back to Rs 83.00 levels while closing at Rs 82.9550….
