NEW DELHI (dpa-AFX) - The Indian rupee pulled back against the U.S. dollar in late morning deals on Friday, after India's central bank left its key interest rates unchanged and vowed to continue its accommodative stance as long as necessary.
The Monetary Policy Committee of the Reserve Bank of India unanimously voted to hold the benchmark policy rate at 4.00 percent. The reverse repo rate was retained at 3.35 percent.
The Marginal Standing Facility rate and the Bank Rate were also left unchanged at 4.25 percent at the meeting.
The Indian rupee retreated to 74.12 against the greenback, after touching 73.97, which was its highest level since June 23. On the downside, 76.00 is possibly seen as its next support level.
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