Rupee strengthens due to higher repo rate, rises 16 paise against the dollar, closed at Rs 79.24 per dollar

Due to the 0.50% increase in the Reserve Bank of India’s repo rate, the ongoing decline in the Rupee halted for two days.

Rupee against Dollar

The Rupee strengthened 16 paise to close at 79.24 against the US Dollar.

Dollar versus Rupee

After the RBI increase in the repo rate, the corona repo rate reached an even higher level than the previous 5.15%.

Due to the increase in foreign currency investment in the stock market and the fall in the price of crude oil, the rupiah strengthened.

The international oil benchmark, Brent, rose 0.20% to $94.31 a barrel.

Loan of thousands of rupees paid in the bank in a single day

The Reserve Bank raised interest rates for the third time since May to curb rising inflation and support the rupee.

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