ET:Rupee pares losses; awaiting details on import measures
The rupee pared losses to trade stronger on the day at 61.21/22, up from its close of 61.2750/2850 on Monday, after finance minister said notification on the increase in import duties is likely to be released later in the day.
There was no consensus on whether the Reserve Bank of India intervened in the falls in rupee from a session low of 61.66 - not far from its record low of 61.80 hit on Aug. 6.
The government announced on Monday it will look to restrict import of gold, silver and other non-essential items as part of its package to contain the current account deficit and boost foreign fund inflows to prop up the rupee.
Details of the import measures, however, are awaited by the market.
Traders said good dollar sales by foreign banks and some custodian flows are also helping the Indian currency.
