22 Hrs
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الاقتصادية
India sidesteps rate hikes, Cash plan to stabilize rupee
The Reserve Bank of India has maintained the key interest rate at 5.25%, while taking measures to support the rupee, which has declined by 5% this year due to rising oil prices and external capital inflows. These measures included removing the capital gains tax on foreign investors and enhancing dollar deposit programs for non-resident Indians, with the aim of stabilizing the currency without hindering economic growth. It is expected that these actions will attract dollar inflows ranging from $40 billion to $60 billion, although rising oil prices could lead to an expansion of India's balance of payments deficit.
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