US Federal hikes Interest Rate, Became Significant for Indian Rupee

Banking International News

Business Mantra News

  • The United States Federal Reserve raised interest rate by 25 bps and this leads a 16 paisa jump in Indian Rupee as against the US Dollar.
  • The Indian Rupee gained strength after the US federal policymakers hike the interest rate by 25 bps to 1.5% from 1.25% from earlier.
  • This was the third time when the US Federal had raised the interest rate, implying a total of 75 bps rise with a 25 bps hike in three consecutive meetings of the year.
  • The Rupees ended almost flat against US Dollar on 13th December after a bumpy ride for two days as retail inflation spiked to a 15 month high level.

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