INSUBCONTINENT EXCLUSIVE:
INR Vs USD Today: Rising crude oil prices put pressure on the rupee, according to analystsThe rupee edged lower against the US dollar in
The rupee opened nine paise lower from its previous close of at 71.18 before trimming some of those losses
The cautious movement in the currency came amid rising crude oil prices a day after the Reserve Bank of India (RBI) maintained the status
rate - the key interest rate at which it lends short-term funds to commercial banks - unchanged at 5.15 per cent and maintained an
"accommodative" stance of policy
The central bank however did hint at further rate cuts ahead.Economists said the decision was in line with their expectations with the
reviews, reducing the repo rate by a total 135 basis points (1.35 percentage point).In an effort to boost credit growth, the RBI introduced
several temporary measures on Thursday, allowing banks to do away with the need to set aside extra cash reserves against incremental lending
lower key rates to borrowers."The RBI is doing its best to unclog the credit channels and to ensure that banks have access to low cost
liquidity for a prolonged period," another forex advisory firm IFA Global said.The removal of a mandatory requirement for commercial banks
to park 4 per cent of their cash for new loans to auto, residential housing, and micro, small and medium enterprises (MSME) sectors is
as China battles the coronavirus epidemic that has hit global markets.Brent crude futures - the global benchmark for crude oil - were last
over the coming year as a significant pickup in economic growth is unlikely, according to strategists who said the coronavirus outbreak was
