Markets in India have reopened for the holidays, with the average price of an Indian currency note hitting a record high of Rs 3,543.50 per 100 rupees ($2,100).
The average of all currencies in India remained stable, while the rupee, which has lost value against the dollar since mid-March, rose to its highest level since May.
Source: Reuters dataBankers in Mumbai, New Delhi and Hyderabad said they had seen no significant changes in demand for currencies, with their prices stable.
In New Delhi, the average of Rs 2,813.63 was the highest since March 2017.
The central bank also said the country’s central bank rate on Wednesday was stable at 2.75 per cent, with no immediate impact on inflation.
The RBI cut its key lending rate to a record low of 1.25 per cent from the previous record of 2 per cent.