Econintersect: The Reserve Bank of India (RBI) moved Wednesday (24 July 2013) to strengthen the rupee after its fall to record lows against the U.S. dollar. The actions include increasing bank reserve requirements and raising interest rates again, the second hike in eight days. The moves today came after an unannounced surpise meeting of the central bank.
A Bloomberg TV video after the Read more >> jump gives more details.
See also: India: Rupee Record Low Against U.S. Dollar (GEI News, 21 June 2013)
Leave a Reply