India’s rupee declined 6.5% this year to a fresh record low of 79.4 per USD amid a stronger USD and continuous outflows from the nation’s stocks. Meanwhile, the country’s central bank raised the overseas borrowing limits for Indian companies and exempted interest rate ceilings on foreign deposits to boost USD inflows into the country. The central bank also allowed trade settlement between India and other nations, including Russia and Sri Lanka in rupees. The move is aimed at increasing global trade communities’ interest in the Indian rupee.