Indian Rupee climbs as RBI contracts monetary base

Source: Bloomberg
© Scanpix/FP
Indian Rupee rises and finishes third weekly advance as the Reserve Bank of India contracted the cash supply to arrest a decline in the currency. The bank set higher interest rates and lender's cash-ration requirement from 70% to 99%. The currency appreciated 0.5% this week, while it added 0.1% to 58.7025 per U.S. Dollar today.
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