RBI ups limit on number of remittances

MUMBAI (Reuters) - The Reserve Bank of India increased the number of remittances by non-resident Indians to individuals to 30 from 12 per year, it said in a news release on Friday. The measure is another step to help boost dollar inflows and protect a weakening rupee

fwire June 08, 2012 23:30:31 IST
RBI ups limit on number of remittances

RBI ups limit on number of remittances

MUMBAI (Reuters) - The Reserve Bank of India increased the number of remittances by non-resident Indians to individuals to 30 from 12 per year, it said in a news release on Friday.

The measure is another step to help boost dollar inflows and protect a weakening rupee.

The rupee, which ended at 55.42/43 to the dollar on Friday, has recovered since hitting a string of record lows last month. It dropped to an all-time low of 56.52 to the dollar on May 31.

(Reporting by Suvashree Dey Choudhury; Editing by Tony Munroe)

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