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June 11th, 2008 · No Comments
RBI increases repo rate by 25 bps to 8%
The Reserve Bank of India on Wednesday announced the increase in repo rates by 25 bps from 7.75 % to 8% for the first time in 15 months. The reverse repo rate has not changed.
“The repo rate hike was in line with market expectations and may serve a dual purpose — it may arrest the fall of the rupee and make rupee-denominated assets more attractive.”
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