USDINR likely to start with weaker note as dollar up on Friday morning, reversing some of its losses earlier in the week. But gains were capped by decreasing U.S. Treasury yields, ever-increasing numbers of COVID-19 cases, and the stalemate in the U.S. Congress over the latest stimulus package. On Thursday , USDINR intraday range was 74.7775 - 74.9725 levels.
India’s central bank kept interest rates on hold on Thursday .Reserve Bank of India (RBI) Governor Shaktikanta Das said space for monetary policy easing remains, but the central bank will ensure inflation stays within its target range.
To ease debt strains on companies and lenders, the RBI said it would allow restructuring of corporate and personal loans by banks, a move that was widely awaited by the industry.
The repo rate was left at 4.0% and the reverse repo rate at 3.35%, against a median forecast for a 25 bp cut in a Reuters poll. The RBI has already reduced the repo rate by a total of 115 bps since February, on top of the 135 bps in an easing cycle last year.
INTRADAY RANGE - 74.64 ( 74.84 - 75.03 ) 75.23
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