RUPEE start Thursday trade with 33 pips slump @ 70.79/80 after Wednesday closed at 70.46/47 levels against Greenback. Most of emerging currencies tumble on United States delivered Russia a 60-day ultimatum on Tuesday to come clean about what Washington says is a violation of the 1987 nuclear arms control treaty, saying it would be forced to start a six-month process of withdrawal if nothing changes.
INTRADAY RANGE - (70.55 - 71.11) 71.25
On that responses President Vladimir Putin said on Wednesday"Russian president Mr. Putin " Russia will develop missiles now banned under the Intermediate-range Nuclear Forces treaty if the United States exits the arms control pact and starts making such weapons"
On Domestic front The Reserve Bank of India (RBI) kept interest rates unchanged on Wednesday, in a decision that was widely expected as inflation has eased significantly, while it took steps to persuade banks to lend more in order to support an economy that has lost some momentum.
The decision to keep the repo rate unchanged at 6.50 percent was as predicted by 64 of 70 analysts in a Reuters poll. The central bank also retained its ‘calibrated tightening’ stance as expected.
Comments