Indian rupee falls below 82/USD after RBI hits pause on rate hikes

the Indian rupees It fell against the US dollar after Reserve Bank of India (RBI) Unexpectedly the repo rate remained unchanged.

The rupee fell to an intraday low of 82.06 against the US dollar versus 81.88 before the RBI policy announcement.

The central bank surprised the markets by keeping the key interest rate at 6.50 percent. A large majority of economists, 49 out of 62, said the RBI would raise the repurchase rate by 25 basis points to a seven-year high of 6.75 per cent.