RBI Raises Repo Rate By 35 Basis Points To 6.25% ; The size of our forex reserves is comfortable and has increased Says RBI Governor Shaktikanta Das

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The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has increased the repo rate by 35 basis points (bps) to 6.25 per cent to contain inflation.

This move was announced by RBI Governor Shaktikanta Das while addressing the media said , “The Monetary Policy Committee meeting met on 5th, 6th and 7th December. Based on an assessment of the macroeconomic situation and its outlook, MPC decided by a majority of 5 members out of 6 to increase policy reported by 35 basis points to 6.25% with immediate effect.

The Indian rupee has appreciated by 3.2% during April-October in real terms, while other major currencies have depreciated, RBI Governor Shaktikanta Das was quoted as saying by ANI

According to Das, Forex reserves stand at $561.2 billion as on December 2. The size of our forex reserves is comfortable and has increased.