Currency in circulation increased from Rs 9 trillion in January 2017 to Rs 19.5 trillion as of September 14 this year
The Indian government estimates that the measures will increase capital inflows by $8-10 billion, or 0.3-0.4 per cent of GDP, in the fiscal year that ends March 31, 2019
About 7-8% of the inventory is being bought and held by NRIs each year
The latest outflow comes following a net infusion of close to Rs 52 billion in the capital markets, both equity and debt, last month and Rs 23 billion in July
Trading in an extremely volatile market environment, the bruised rupee ended at 72.20, showing a steep loss of 36 paise
The markets have priced in tightening as well, but it is unlikely to materialise, Nomura said in a report
Govt officials assured a select group of market participants that the bond market borrowing programme for October to March would be lower than expected
A senior finance ministry official said there was a view that the rupee could weaken further in the next two months if proposed steps failed to kill 'speculation in the rupee market'
Dun & Bradstreet expects the rupee to be around 72.3-72.5 per US dollar during September
The latest outflow comes following a net infusion of close to Rs 52 billion in the capital markets, both equity and debt, last month and Rs 23 million in August
The Indian rupee on Friday closed at 71.85, recovering 34 paise from its previous close of 72.19 per greenback
In the week to September 7, foreign currency assets, a major component of the overall reserves, fell by $887.4 million to $375.099 billion
The measures will probably include steps to curb the decline in the rupee and oil prices
The RBI net sold $1.9 billion of foreign currency in July to support the rupee
The Indian rupee Monday crashed below the 72-mark to end at a life-low of 72.45 against the US dollar
The six-member monetary policy committee of the RBI will make its next rate decision on October 5
Swapping funds from yen to rupee was about 10 basis points cheaper than swapping from dollars to rupee
India's trade deficit for August is likely to remain at $17 billion to $18 billion, while the Federal Reserve is set to raise rates again this month
The rupee crashed below the 72-mark to end at a life-low of 72.45 against the US dollar
Forex dealers said besides strong demand for the American currency, buying by importers, mainly oil refiners in view of surging crude oil prices and capital outflows, weighed on the domestic currency