Rupee opens lower despite govt measures

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Rupee opens lower despite govt measures
The rupee opened lower in trade despite a series of government measures initiated late on Monday. The currency was last trading at 61.57 against the dollar, down 29 paise over Monday's close.

The government on Monday gave permission to IRFC, PFC and IIFCL to collectively raise USD 4 billion through quasi-sovereign bonds for the infrastructure sector. Apart from this some curbs on the import of gold and other items would be levied.

There are reports that the government might also increase the import duty on selected imported items.

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