The rupee declined below psychologically crucial level of 90-per-dollar level on Friday. (Photo source: Radha Raswe/NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The Indian rupee slipped below 90-per-dollar level briefly on Friday after the Reserve Bank of India reduced the benchmark repo rate by 25 basis points to 5.25% and announced a $5-billion buy-sell swap of a three-year tenure.

"As far as the rupee is concerned, it is not positive. Having said that, we are not seeing much negative impact on the currency as of now. Maybe RBI is there," said Ritesh Bhanshali, director, Mecklai Financial Services. "The way RBI had come in at around 90.50 yesterday, they did not want the currency to breach the level. For rupee, 91.20–90.50 will be the upper end, and 88.0

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