India, Aug. 6 -- The Indian rupee strengthened against the U.S. dollar in the European session, as the India's central bank retained its key interest rates.
The Monetary Policy Committee of the Reserve Bank of India, governed by Governor Sanjay Malhotra, unanimously decided to hold the policy repo rate at 5.50 percent.
The bank had reduced the rate by 50 basis points in June and 25 basis points each in February and April.
The governor said inflation outlook for 2025-26 has become more benign than expected in June. The bank downgraded its inflation forecast for the current financial year to 3.1 percent from 3.7 percent projected in June.
At the same time, economic growth for 2025-26 was projected at 6.5 percent, unchanged from the previo...