23 Hrs
Source:
اقتصاد سكاي نيوز عربية
RBI acts to bolster rupee
The Reserve Bank of India announced a set of measures to bolster the rupee after it fell to its lowest level, while keeping the benchmark interest rate steady at 5.25 percent. These steps aim to encourage foreign inflows by easing the purchase of government bonds, as well as cutting taxes on capital gains for foreign investments in bonds. The bank also stated that these measures are intended to improve the balance of payments and support economic growth without increasing interest rates, with inflation expected to rise to 5.1 percent during the upcoming fiscal year.
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