RBI opens new attack to clamp rupee free fall

In a major attack to clamp the further decline in the Indian rupee against the US dollar, the Reserve Bank of India (RBI) on Monday late evening issued a series of liquidity measures. Bonds yields are now expected to go up while a dearer rupee is likely to create a squeeze in funds availability. Consequently, the demand for rupee will rise.

http://www.moneycontrol.com/news/business/rbi-opens-new-attack-to-clamp-rupee-free-fall_918147.html#toptag