The Indian rupee inched up on Friday, maintaining its weekly upward trend, with dollar inflows helping mitigate the impact of the decline in Asian peers. The local currency is on course for its best weekly performance in two years on the back of inflows via foreign banks and amid traders unwinding speculative long-dollar positions. It was likely that the inflow …
Loans to purchase cars and houses are set to become costlier with the Reserve Bank of India raising the interest rate for banks. Raghuram Rajan, in his maiden policy review as Governor of RBI, on Friday, hiked the repo rate by 25 basis points to 7.50 per cent. The repo rate is the rate at which banks borrow from the …
