• USD/INR Price News: Indian rupee drops towards 76.00 after RBI’s surprise 40 bps rate hike

Market news

4 May 2022

USD/INR Price News: Indian rupee drops towards 76.00 after RBI’s surprise 40 bps rate hike

The Reserve Bank of India (RBI) caught markets off-guard by announcing a 40 basis points (bps) rate hike, in the first such unscheduled statement from the governor since the start of the pandemic in 2020.

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