The Reserve Bank of India (RBI) in its
first-quarter monetary policy review has retained CRR and repo rates unchanged,
in line with its statement yesterday that its immediate focus would be to
stabilise the rupee and to control the current account deficit.
While addressing a press conference, RBI governor D.
Subbarao said RBI has cut 2013-14 GDP growth forecast to 5.5% from 5.7%. Rupee
stability to allow RBI to revert to supporting growth and structural measures
needed to bring CAD down to sustainable levels, for this RBI stands ready to
use all available instruments and measures at its command.
Today, RSS3 grade closed at `.147.38
a kg at Bangkok, while Malaysian SMR20 closed at `.129.83 a kg. On the
Tokyo Commodity Exchange, August futures series closed at ¥239.8, September at
¥240.1, October at ¥240.7, November at ¥241.3, December at ¥242.5, and the
contract for delivery in January closed at ¥243.6 a kg. On National Multi
Commodity Exchange, natural rubber August futures were trading at `.191.75,
September at `.179.54, October at `.169.75, November at `.164.01
and December at `.164 a kg, at 12.30 pm IST.
No comments:
Post a Comment