INR Settles Flat After RBI Policy Keeps Rates Untouched For Sixth Time In A Row

Published on Feb 08, 2024 17:21

The Indian rupee settled on a flat note at 82.96 (provisional) against the US dollar on Thursday, after the Reserve Bank decided to keep the key policy rate unchanged for the sixth time in a row to maintain a tight vigil on inflation. Negative trend in domestic equities also weighed on investor sentiments. The benchmark S&P BSE Sensex fell 723.57 points, or 1.0 percent to 71,428.43 while the broader NSE Nifty index dropped 212.55 points, or 0.97 percent, to 21,717.95. Meanwhile, dollar staying around 104 mark also kept sentiments dented for the local unit. At the interbank foreign exchange, the rupee opened at 82.94 against the dollar and moved in a narrow range and settled for the day at 82.96 against the American currency, as the central bank retained the repo rate at 6.5 pc for the sixth consecutive time.