Investing.com - India’s benchmark interest rate rose unexpectedly, official statement showed on Friday.
In a statement, Reserve Bank of India said that Indian Repo Rate rose to a 7.50%, from 7.25% in the preceding month, the first hike since 2011
Analysts had expected Indian Interest Rate Decision to remain unchanged at 7.25% last month.
Following the release of the data, the Indian Rupee remained unchanged against its U.S. counterpart, with USD/INR trading at 62.37.
In a statement, Reserve Bank of India said that Indian Repo Rate rose to a 7.50%, from 7.25% in the preceding month, the first hike since 2011
Analysts had expected Indian Interest Rate Decision to remain unchanged at 7.25% last month.
Following the release of the data, the Indian Rupee remained unchanged against its U.S. counterpart, with USD/INR trading at 62.37.