On the 5th, the Central Bank of India decided to raise the benchmark interest rate by 50 basis points to 5.4%, which is the third interest rate increase of the central bank in this fiscal year (April 2022 to March 2023). The Central Bank of India also maintained its forecast for India's economic growth of 7.2% this fiscal year. The Central Bank of India raised interest rates to curb inflation. Since the beginning of this year, India's inflation rate has been above the central bank's tolerance limit of 6%. The rate increase was 35 basis points higher than the market forecast. Market participants believe that this will help increase the market's confidence in the Indian Rupee exchange rate. As the US Federal Reserve continues to raise interest rates, the reduction of the US India interest rate gap has led to capital outflow in the Indian market, and the exchange rate of the rupee against the US dollar has hit new lows for many times. (news agency)