Mumbai: The rupee recovered by 10 paise to 63.15 against the U.S. dollar in early trade on Wednesday after the RBI announced fresh measures to curb volatility and ease liquidity situation.
Forex dealers said besides dollar selling by exporters, the Reserve Bank on Tuesday announced a slew of measures to ease liquidity, including Rs. 8,000-crore bond buyback, to ensure adequate credit flow to the productive sectors of the economy, also supported the rupee.
They said dollar’s weakness against euro overseas also helped the domestic currency.
The rupee had ended 12 paise lower at 63.25 after hitting a fresh low of 64.13 against the U.S. dollar in the previous session.