Rupee weakens as central bank policy

The Indian rupee weakened on Friday (03 May 2013) as the central bank disappointed markets with a hawkish tone in its annual monetary policy, despite delivering a widely expected 25 basis point rate cut.

Rupee had closed at 53.935/945 per dollar on Friday (03 May 2013), weaker than its close of 53.81/82 on Thursday (02 May 2013).

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