INR & PKR Weaken Slightly Amid Stable RBI Rates
INR closes 0.2% weaker as RBI maintains 6.5% interest rate; PKR ends week 0.1% lower with no significant data releases.
Published on 14 Aug 2024
, 1 minute read
Here’s this week’s overview of the Indian Rupee and Pakistani Rupee:
Indian Rupee
The Indian Rupee closed 0.2% weaker at 83.95 against USD last week.
The Reserve Bank of India maintained its benchmark interest rate at 6.5% for the ninth consecutive meeting last week to ensure inflation is down towards its 4% medium-term target while supporting growth, aligning with the market expected.
Underlying data remains strong, with the managed decline of the exchange rate continuing to boost the export driven economy.
Pakistani Rupee
PKR ended the week trading 0.1% lower against USD at 278.5. There were no data releases of note out of Pakistan last week.
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