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The Indian rupee declined against the US dollar after the Reserve Bank of India (RBI) unexpectedly kept the repo rate unchanged.
The rupee declined to an intraday low of at 82.06 per US dollar versus 81.88 before the RBI policy announcement.
The central bank surprised markets by keeping the key policy rate at 6.50 per cent. A large majority of economists, 49 of 62, had said the RBI would lift its repo rate by 25 basis points to a seven-year high of 6.75 per cent.
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