Rupee breaches 74-mark against dollar as RBI keeps policy rate unchanged

The rupee was quoted 55 paise lower at 74.13 against the dollar soon after the RBI announced its monetary policy.

The rupee was quoted 55 paise lower at 74.13 against the dollar soon after the RBI announced its monetary policy, reported INS India. The central bank retained the repo rate unchanged at 6.50 per cent, while the reverse repo rate also stayed at 6.25 per cent.

Meanwhile, the BSE Sensex too plunged by 584.53 points, or 1.66 per cent, to 34,584.63 in late afternoon trade.

At the Interbank Foreign Exchange (Forex) market, the rupee opened higher at 73.56 a dollar against its previous record low closing of 73.58 on Thursday, but failed to sustain the initial strength and fell back to breach the 74 mark.

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