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India's central bank is exploring strategies to attract dollar inflows to strengthen its foreign exchange reserves and mitigate the depreciation of the rupee, which has fallen significantly due to rising oil prices linked to the ongoing Iran conflict, considering measures such as reviving a deposit mechanism for non-resident Indians and eliminating withholding tax on foreign bond investors. #CurrencyStability #ForeignExchange #EconomicPolicy #IN #US #IL #IR
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Exclusive: India explores steps to mobilise dollar inflows as rupee slides, sources say
MUMBAI, May 4 (Reuters) - India's central bank is studying ways to mobilise dollar inflows to bolster its foreign exchange buffers and cushion rising pressure on the rupee from a spike in oil prices driven by the Iran war, three sources familiar with the discussions told Reuters.
