Citibank: India plans to tighten foreign exchange controls to curb the depreciation of the rupee.

Citigroup Group stated that India may introduce measures to increase foreign exchange reserves and stabilize the rupee exchange rate, including possibly restricting the outflow of corporate funds. Citigroup economists believe that Indian authorities may introduce policies to attract foreign capital inflows and tighten regulations on corporate overseas investments. Citigroup believes that possible measures that India may implement include tightening restrictions on Indian companies' overseas direct investment, and introducing stricter regulations requiring exporters to repatriate foreign exchange earnings back to the country more quickly.