India hikes foreign investment cap on govt bonds
New Delhi - Arabstoday
India on Monday announced a slew of economic measures, including raising the foreign investment cap for government bonds, to boost the rupee, which has fallen to record lows against the dollar. The Reserve Bank of India (RBI), in consultation with the government, announced the measures to attract more foreign in-flows as the rupee as been hit by India’s slowing economy and global uncertainty. The limit on foreign investment in government bonds will be raised by $5 billion to $20 billion, the RBI said in a statement.
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