India looks to raise capital, cut imports in rupee rescue

08/12/2013 | Bloomberg

The Indian government plans to push for more capital infusions and fewer imports in the latest stage of its fight to curb the rupee's decline. Targeted in particular under the plan to restrain imports are gold, silver and other nonessential items. The steps "should help limit the rupee disruption. But, ultimately, it will depend up on what the U.S. Fed says in September and how global factors play out as a great deal of it is not in India's hands," said Prasanna Ananthasubramanian, an economist at ICICI Securities Primary Dealership in Mumbai.

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