Rupee jumps 50 paise as RBI eases foreign investment norms
The rupee climbed 50 paise on Friday, strengthening to 95.24 against the US dollar after the Reserve Bank of India (RBI) announced fresh steps to bring in more foreign investment.
With global tensions rising from the U.S.-Iran conflict, RBI Governor Sanjay Malhotra reassured everyone that India's strong foreign exchange reserves are there to help keep things steady.
RBI opens 15, 30, 40-year bonds
The RBI is making it easier for foreign investors by opening up longer-term government bonds (15, 30, and 40 years), lifting some limits on short-term investments, and offering special swap deals for public sector companies.
Plus, NRIs and OCIs can now invest more in Indian stocks.
The goal? Bring in more overseas money and keep the rupee stable, even when things get unpredictable globally.