Unbelievable, but your rupee set to hit Rs 75 mark vs US dollar
Over the weekend China reduced its reserve requirement ratio by 100 basis points, or 1%, to support growth by infusing liquidity. RBI maintained a status quo on the rates it lends to banks for the same reason.
Experts said the central bank did not want to topple the apple cart and push up rates in the domestic debt market when the green shoots of an economic revival were visible. Image source: Reuters