India’s central bank has opened the door to more foreign investment in the country in an effort to revive the struggling rupee which plummeted to new lows this month, according to a report by Mint.
The Reserve Bank of India announced a raft of new measures to increase forex inflows on Wednesday including allowing foreigners to invest in short-term corporate debt, the report said. “Emerging market economies are facing persistent downward pressures on their currencies,” the RBI said.
Full story: Mint
- By Sean O’Meara