Rupee pares most early losses post RBI rate cut

June 06, 2019 13:47

The rupee pared most of its early morning losses and was trading marginally down by 5 paise at 69.31 against the American currency, after the Reserve Bank of India cut its repo rate by 0.25 per cent Thursday. The rupee had opened on a weak note at 69.41 at the interbank forex market and then fell further to 69.45 vs the USD.

Following the RBI's Monetary Policy Committee decision, the local currency recovered most of the lost ground. The domestic currency was trading at 69.31 at 1248 hrs, down 5 paise over its last close.

The rupee had settled at 69.26 against the US dollar Tuesday. Indian bonds and Forex markets were closed Wednesday on account of Id-Ul-Fitr. -- PTI

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