India’s central bank to increase efforts to “save” rupee crisis
India's central bank
rupee plummeted and capital outflows are the India’s economy to more than 20 the biggest crisis. Wednesday, India had once again increased the response.
late Wednesday, India’s central bank issued a statement to tighten overseas investment restrictions, requiring domestic enterprises in the case without the approval may be made to the largest overseas investment can not exceed 100% of the net assets, Previously prescribed limit of 400%. Meanwhile, India’s central bank will limit residents to overseas remittances from $ 200,000 per fiscal reduced to $ 75,000.
impact statement by the Reserve Bank of India, on Wednesday, the rupee against the dollar, one of the offshore non-deliverable forward rate rose 0.2 percent to 61.83 rupees, up for the first time in three days.
In addition, to reduce the pressure on rupee, the Indian government on Tuesday has again raised import duties on gold and silver. India’s gold imports tariff rate from 8% to 10%, the …
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