💱US Dollar/Indian Rupee FX Spot Rate
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▼ NegativeMonetaryrelevance
RBI expected to keep rates unchanged, rupee strengthens on inflows and oil drop
Impact on assets 1
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Indian shares are expected to open cautiously on Tuesday after four straight sessions of gains, with investors awaiting the Reserve Bank of India's monetary policy decision on Wednesday. The RBI is widely expected to keep the repo rate unchanged at 5.25 percent for a fourth consecutive meeting and maintain its neutral stance. On Monday, the Sensex rose 0.7 percent and the Nifty surged 1.6 percent, helped by a sharp drop in crude oil prices and sustained foreign institutional investor inflows. Foreign institutional investors net bought shares worth Rs 922.26 crore, while domestic institutional investors net bought Rs 1,571.18 crore. The rupee extended its winning streak to a sixth session, settling 12 paise higher at 95.31 against the dollar.
RBI expected to keep rates unchanged, rupee strengthens on inflows and oil drop