MUMBAI: Rupee strengthened against the dollar, while stocks cut losses after Finance Minister Pranab Mukherjee announced amendments to a series of controversial GAAR provisions on taxation for foreign investors, including deferring any implementation by a year.
The benchmark stock index was down 0.5 per cent, cutting losses of nearly 1 per cent before the announcement.
The rupee was trading at 53.01 to the dollar, strengthening from 53.20 before the announcement.
