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MUMBAI, June 25: India on Monday announced a slew of measures, including raising the foreign investment cap for government bonds, to boost the rupee that has fallen to record lows against the dollar.
The Reserve Bank of India (RBI), in consultation with the government, unveiled the measures to attract increased foreign in-flows as the rupee has been hit by India's slowing economy and global uncertainty.
The limit on foreign investment in government bonds would be raised by $5 billion to $20 billion, the RBI said in a statement. The currency touched a record low of 57.32 last week.—AFP
