USDINR trading range for the day is 70.33-71.09.
Rupee gained slightly after the Reserve Bank of India kept its benchmark repo rate unchanged at 6.50% while reducing its inflation target for H2 2019.
The central bank said starting in the January-March quarter of 2019 it would begin to lower banks’ mandatory bond holding ratios by 25 basis points each quarter.
India’s economic growth fell to a worse-than-expected 7.1 percent in the July-September quarter, dragged down by a slower consumer spending and farm growth.
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