MUMBAI, July 6 Reuters India39;s central bank took a slew of measures on Wednesday to boost foreign exchange inflows, including allowing overseas investors to buy shortterm corporate debt and opening of more government securities under the fully accessible route.

The steps came after the Reserve Bank of India39;s foreign exchange reserves fell by more than 40 billion over the past nine months, largely due to the RBI39;s intervention in the currency market to cap rupee losses.

The Indian currency has shed about 6 of its value against the dollar since the beginning of this year. The rupee closed trading on Wednesday at 79.3025 per dollar, not far from its record low of 79.3750 touched on Tuesday.

The RBI said it would allow foreign investors to buy 7 and 14year tenure government bonds without any upper limits under its fully accessible route, along with previously openedup 5, 10 and 30year tenure securities.

While it is difficult to ascertain the quantum of flows, the measures are attractive for banks and FPIs, said Suvodeep Rakshit, senior economist at Kotak Institutional Equities.

Rakshit said India39;s macro situation is better than during the 2013 taper tantrum period but these measures would alleviate and preempt the adverse impact on the external sector balance.

The RBI said it was taking the new measures to enhance forex inflows while ensuring overall macroeconomic and financial stability.

TEMPORARY SOLUTION

It also allowed banks to raise deposit rates for…