India considering special deposit scheme to boost dollar inflows
New Delhi: The rupee fell to a record low against US dollar today amid rising crude oil prices. The Indian currency fell to an all-time low of 73.34 against the US dollar.
To stem the free-fall, the government is considering special deposit scheme for non-resident Indians to boost dollar inflows, news agency NewsRise reported.
Earlier, the Economic Affairs Secretary Subhash Chandra Garg said that if needed, government could raise funds through foreign currency non-repatriable (FCNR) deposits, sovereign bonds or other routes to increase forex reserves.