[indian rupee]The INDIAN RUPEE is up on Wednesday after the Reserve Bank of India unexpectedly held rates. The currency is higher by 0.4% at 67.110 per dollar as of 8:24 a.m. ET. India's central bank held its benchmark interest rate at 6.25%, signaling the end of a loosening cycle. "The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving consumer price index or CPI inflation at 5 per cent by Q4 of 2016-17 and the medium-term target of 4 per cent within a band of +/- 2%, while supporting growth," the RBI said in its statement. "Looking ahead, with inflation set to accelerate, we continue to think that rate _hikes_ will come onto the agenda much sooner than is generally anticipated," argued Shilan Shah, India economist at Capital Economics, in a note to clients. As for the rest of the world, here's the scoreboard as of 8:24 a.m. ET: * The US DOLLAR INDEX is up by 0.2% at 100.43 ahead of a quiet data day. The Department of Energy's inventories will be released at 10:30 a.m. ET. * The EURO is down by 0.1% at 1.0667 against the dollar. Separately, the latest report from the International Monetary Fund said that Greece's debt will become "explosive" within 13 years. The IMF said that the debt-ridden country will struggle when it has to refinance its loans at market rates in 2030. * The RUSSIAN RUBLE is up by 0.2% at 59.2390 per dollar, while Brent crude oil, the international benchmark, is down by 0.3% at $54.95 per barrel. * The MEXICAN PESO is higher by 0.4% at 20.5382 per dollar. SEE ALSO: WHAT 25 MAJOR WORLD LEADERS AND DICTATORS LOOKED LIKE WHEN THEY WERE YOUNG Join the conversation about this story » NOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin
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