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Last Updated : Dec 08, 2016 10:25 AM IST | Source: Moneycontrol.com

Indian Rupee is expected to appreciate: Angel Broking

According to Angel Broking, Indian Rupee is expected to appreciate as markets discount the RBI policy outcome where the repo rate was kept unchanged. The RBI governor feels that India‘s inflation rate has risks from volatile crude price and the unclear effects of the withdrawal of high denomination currency notes.

Angel Broking's report on Currency

INDIAN RUPEE (USDINR)
The Indian Rupee appreciated by 0.44 percent yesterday after the  Reserve Bank of India in its fifth Bi - Monthly Monetary Policy  review kept its benchmark repo rate unchanged at 6.25 percent.  Other important rates were also kept at the same levels like the  Reverse Repo Rate at 5.75 percent and both marginal standing  facility and bank rate stood unadjusted at 6.75 percent. Urjit Patel, the RBI governor, is of the opinion that there is  heightened uncertainty in global market s like rate hike in the US  and Trump’s policies along with political risk in Euro - zone which  could have a spill - over effect on emerging market economies  including India.  He feels that India’s inflation  rate has  risks from  volatile crude price and the unclear effects of the withdrawal of  high denomination currency notes.  

OUTLOOK
Indian Rupee is expected to appreciate as markets discount the  RBI policy outcome where the repo  rate was kept unchanged. The RBI governor feels that India’s inflation rate has risks from volatile crude price and the unclear effects of the withdrawal of high  denomination currency notes.  

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First Published on Dec 8, 2016 10:25 am
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