The rupee was trading at 59.46 against the dollar, losing 11 paise in early trade. The rupee had closed at 59.35 against the dollar on Friday.
Last week the rupee made smart gains following a series of actions by the RBI and the government. The rupee had in June hit 61.21 against the dollar, a new historic low.
Foreign funds have reduced their selling in equities and debt, while gold imports have slackened, which should help recovery of the rupee.
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