The Indian rupee gained ground in trade today as measures initiated by the RBI and the government helped boost sentiments.
The rupee was last trading at 61.35 against the dollar, up 8 paise over Wednesday's close. The RBI announced a fresh set of measures aimed at restricting foreign exchange outflows. The Reserve Bank of India's cut the amount of overseas direct investments allowed by Indians, as well as lowering the limits on remittances overseas and banning the use of such remittances for overseas property purchases.
Dealers say that the rupee may stabilise around the current levels, unless there is some adverse news like the Fed tapering. All depends on what news emanates from around the globe, particularly the US Check rupee quotes here
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