(Bloomberg) -- India’s central bank announced a slew of measures to boost foreign exchange inflows including raising overseas borrowing limits by companies and liberalizing foreign ownership in government bonds as it attempted to staunch the rupee’s recent fall to record lows.
The moves came just days after the federal government raised import duties on gold, apart from increasing levies on exports of gasoline and diesel in an attempt to control a fast-widening current account gap.
“The Reserve Bank has been closely and continuously monitoring the liquidity conditions in the forex market and has stepped in as needed in all its segments to alleviate dollar tightness with the objective of ensuring orderly market functioning,” the central bank said in a statement Wednesday.
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