The Bank of Japan refrained from cutting interest rates from -0.1% at its monetary policy meeting, choosing instead to modify its existing policy framework. The BOJ said it would continue to buy long-term government bonds at a pace that allows the balance of its holdings to increase by 80 trillion yen ($781 billion) per year.
The Indian currency ended lower by five paise at 67.02/$. The local unit had hit a high of 67.06 and a low of 67.22. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 67.02 and for Euro stood at 74.88. The RBI’s reference rate for the Yen stood at 65.86; reference rate for the Great Britain Pound (GBP) stood at 87.3740.