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.