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    Rupee gains in early trade; rises above 60

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     Rupee gains in early trade; rises above 60
    INR
    69.370 US Dollar
    The rupee made smart gains in trade today on rising equities and after a series of measures taken by regulators.
     

    The rupee was trading at 59.85 against the dollar, gaining 76 paise in trade.

    According to a Reuters report regulators toughened rules for derivatives trading in the currency market in a bid to arrest the steep decline of the rupee.

    A SEBI directive has stated, "In consultation with RBI and in view of the recent turbulent phase of extreme volatility in USD-INR exchange rate, it has been decided to curtail position limits and increase margin requirements for Currency Derivatives."

    Dealers also expect some dollar inflows into the forex market following a stake by Unilever Brothers in its Indian subsidiary.

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