Government Announces Measures To Stabilise Rupee
A Singapore-based forex dealer said the measures would not do much to bolster the rupee. The Indian government late on Friday announced a slew of steps aimed at stemming a steep decline in the rupee, which has fallen rapidly this year, and it left the door open to announcing more measures. After an economic review meeting chaired by Prime Minister Narendra Modi, India’s finance minister said the government plans to take measures to cut down “non-necessary” imports, ease overseas borrowing norms for the manufacturing sector and relax rules around banks…
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