India raises limit on foreign investment in govt bonds

INDIA-RUPEE-GOVT-BONDS-LIMIT:India raises limit on foreign investment in govt bonds

India took a handful of measures to prop up the embattled rupee on Monday, including increasing the limit on foreign investment in government bonds by $5 billion to $20 billion, the RBI said.

The rupee rallied on Monday on hopes for government measures to halt a slump in the currency, which hit a record low on Friday, with traders saying action to boost long-term foreign investment would be the most effective step.