India Economics

India Economics Weekly

14 September, 2018

Diaspora to the rescue?

The continued weakness of the rupee has triggered speculation this week that policymakers are about to adopt special measures to shore up the currency. One possibility is the reintroduction of a scheme used during the “Taper Tantrum” to attract foreign currency deposits from Indians resident overseas. This proved effective in stabilising the rupee in 2013, but we think there would be little merit in reintroducing it now.

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