India targets 40 billion dollars to support rupee
The Indian government and central bank have launched a series of measures to boost dollar inflows and stabilize the currency against rising oil prices. Analysts expect the policy changes to bridge a significant balance of payments gap by attracting between 30 and 50 billion dollars in capital.
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India launched a series of measures on June 5 to attract $40 billion in capital inflows and stabilize the rupee. The policy shift follows record equity outflows and rising Brent Crude Oil prices that pushed the currency to all-time lows. These steps aim to bridge an estimated $40 billion to $50 billion balance of payments gap for the 2027 fiscal year.
