The Reserve Bank of India has delivered the interest-rate increase Goldman Sachs expected, leaving the size of any further tightening as an important test of the bank's cautious Indian Rupee outlook. The RBI raised its repo rate by 25 basis points to 5.50% on Wednesday and shifted its policy stance from neutral to calibrated tightening. Goldman's forecasts, published on 5 October before the decision, put USD/INR at 96 in three months and 97 in both six and 12 months . Those are pre-meeting projections, allowing an initial Rupee recovery before renewed weakness, rather than a reassessment issued after Wednesday's announcement. USD/INR traded near 96.7174 on Wednesday afternoon, up 0.
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