RBI considers foreign currency bonds to support rupee
after close1 source ↓written by the desknot a recommendation
The Reserve Bank of India is exploring options to attract more US Dollar inflows, including allowing state-owned banks to issue foreign currency bonds. This move aims to support the rupee, which has weakened to around ₹85.50 against the dollar, down nearly 3% this year. A successful implementation could help reduce the balance of payments gap and stabilize the currency. 💱
Not investment advice. For informational purposes only.