RBI announces stringent measures to prop up Rupee - ICICI Bank : Treasury Research

Weak PMI data from China added to growth concerns and somewhat weighed on global risk sentiment this morning.

Yesterday evening, the RBI announced more stringent measures to prop up Rupee with LAF restricted to 0.5% of NDTL from 1% previously and daily minimum CRR requirement for banks increased to 99% of fortnightly requirement as against 70% currently.

Source : Equity Bulls

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