<h1>Rupee Strengthens 26 Paise to 87.33/USD After RBI Cuts Repo Rate by 25 Basis Points for First Time in 5 Years</h1> The rupee recovered 26 paise to 87.33 against the US dollar after the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points, marking the first rate cut in nearly five years. The rupee opened at 87.57, hit a high of 87.33, and was trading at 87.45 by midday. This move followed a significant tax break announced by the Finance Minister to boost consumption amid economic slowdown. The RBI Governor stated that the exchange rate policy remains consistent, focusing on stability. India's foreign exchange reserves stood at USD 630.6 billion.