Mumbai, June 6: The rupee touched the key psychological level of 57 to the dollar on Thursday, approaching a record low hit nearly a year earlier as fears of an end to the U.S. Federal Reserve's monetary stimulus sent the dollar higher and hit local shares. Below are some measures the Reserve Bank of India and the government could consider to protect the rupee.

Raising foreign investment limits on debt (likely): India could further raise the combined $76.5 billion investment limits on government and corporate debt after last hiking them in March, but any increase would likely be small. Finance Ministry sources say the $25 billion cap on foreign investment in government debt could be raised by $5 billion soon.