RBI weighs rate hikes and dollar swaps to steady rupee

RBI considers $50 billion nonresident deposits

If this all sounds familiar, it's because the RBI used similar tactics during the 2013 "taper tantrum."
This time, nonresident deposit schemes could raise up to $50 billion, way up from $30 billion last time, and a recent $5 billion currency swap was aimed at boosting dollar reserves.
The goal is clear: show off India's solid economic fundamentals and keep the rupee from sliding further.