Business Standard
The rupee appreciated 50 paise to 95.24 against the US dollar on Friday after the RBI liberalised norms for FPI investment in government securities. Forex traders said the announcements in the RBI policy boosted investor sentiments after the apex bank asserted that the country's forex reserves provide sufficient buffer against external shocks. At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.24 in intraday trade, registering a rise of 50 paise from its previous close. On Thursday, the rupee rose 2 paise to settle at 95.74 against the US dollar. The Reserve Bank on Friday expectedly kept interest rates unchanged for the second time in a row as it weighed the impact of rising energy prices and supply disruptions caused by the West Asia crisis. Announcing the second bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to retain short-term lending rate or rep
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