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RBI firefights rupee slide

Posted on 24 November 2011

The Reserve Bank of India (RBI) on Wednesday announced a slew of measures to arrest the decline of the rupee, which has lost 14 per cent of its value this year and is the worst performer among Asian currencies. The regulator has also stepped up its surveillance with banks to keep a check on speculative activity by market participants.
The central bank has relaxed external commercial borrowing norms by raising the ceiling for interest rate the Indian corporate sector pays to raise overseas funds………………………………………..Full Article: Source


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