RBI forms task force on offshore rupee

Task force will examine the effects of the offshore market on exchange rates and domestic liquidity

Reserve Bank of India in Mumbai
RBI wants to incentivise non-residents to access the domestic market

The Reserve Bank of India has created a task force to examine the cause behind the development of the offshore rupee market and its effects on the exchange rate and liquidity in the domestic market.

The eight-member team, dubbed the Task Force on Offshore Rupee Markets, is led by Usha Thorat, a former deputy governor of the central bank.

The RBI announced on February 28 that the task force will also recommend appropriate policy measures that factor in the stability of the external value of the

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