AKIPRESS.COM - Emboldened by the recent strength of Indian rupee the Reserve Bank of India on Tuesday relaxed some of the foreign exchange regulations it had introduced last year following a sharp decline of Indian currency.

Under the revised rules the RBI has raised the annual investment ceiling for individuals to $125,000 from $75,000, the Hindu Business Line said.

In last August the RBI had reduced the ceiling from $200,000 to $75,000 per person in a financial year under the liberalised remittance scheme (LRS) in view of the worsening current account deficit and a volatile rupee.

“In view of the recent stability in the foreign exchange market, it has been decided to enhance the eligible limit to $125,000 without end use restrictions except for prohibited foreign exchange transactions such as margin trading, lottery and the like,” RBI said in its bi-monthly policy statement on Tuesday.