FX RATES
FX RATES

India Raises Interest Rates For First Time In Four Years

India’s central bank raised interest rates for the first time in over four years Wednesday, citing concerns over a spike in inflation.

The Reserve Bank of India (RBI) said the benchmark repo rate — the level at which it lends to commercial banks — would be increased by 25 basis points to 6.25 percent.

The rate was last hiked in January 2014.

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