Rupee weakens as India considers dollar deposit scheme
after close1 source ↓written by the desknot a recommendation
- this year
- 5.5%
- per dollar last
- ₹95.33
- aimed at non-resident
- 2013 scheme
- amid rising oil
- $698 billion
The rupee has slid 5.5% this year, reaching a record low of ₹95.33 per dollar last week. In response, the Reserve Bank of India is exploring measures to attract dollar inflows, including a revival of a 2013 scheme aimed at non-resident dollar deposits. This comes as foreign exchange reserves drop to $698 billion amid rising oil prices due to geopolitical tensions.
Not investment advice. For informational purposes only.