Rupee firms early after RBI comments
The rupee rose early today, supported by the central bank's assurance it will take more steps to stem the weakness in the currency.business Updated: Dec 21, 2011 09:29 IST
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.
First Published: Dec 21, 2011 09:27 IST