To counter a depreciating rupee, the government and RBI aim to increase the supply of foreign currency or reduce the demand for it. Curbing imports and promoting exports (Option A) directly impacts the trade balance, a component of the current account. Encouraging Masala Bonds (Option B) attracts foreign investment in rupee-denominated debt, increasing foreign exchange inflows. Easing external commercial borrowing (Option C) also facilitates foreign capital inflow. Conversely, an expansionary monetary policy (Option D), characterized by lower interest rates, typically leads to capital outflow and further depreciation, thus being counterproductive to stabilizing the rupee.