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Rupee firms early after RBI comments

business Updated: Dec 21, 2011 09:29 IST
Reserve Bank of India

The rupee rose early on Wednesday, supported by the central bank's assurance it will take more steps to stem the weakness in the currency.

* Subir Gokarn, a deputy governor at the Reserve Bank of India, said on Tuesday the central bank would use other measures to bring stability to the foreign exchange market.

* Last Thursday, the RBI reduced net overnight open position limit of banks to curb excessive volatility and shore up the rupee, which had hit an all-time trough of 54.30 to the dollar.

* The rupee opened firmer at 52.70 after closing little changed at 52.87/88 on Tuesday.

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