USD/INR gains as RBI surprisingly cuts Repo Rate by 50 bps to 5.5%

  • The Indian Rupee (INR) weakens against the US Dollar (USD) and falls to near 86.00 during Asian trading hours on Friday. The USD/INR pair strengthens as the Reserve Bank of India (RBI) has unexpectedly cut its Repo Rate by 50 basis points (bps) to 5.5%.