BT:Indian rupee gains 10 paise against US dollar as RBI eases norms
The Indian rupee recovered by 10 paise to 55.55 against the dollar in early trade on Wednesday on the Interbank Foreign Exchange.
Traders say the move is on the back of the Reserve Bank of India (RBI) easing norms, allowing corporates and exporters to keep their entire forex earnings in the respective foreign currency for a limited period.
In addition, dollar's weakness against other currencies overseas also supported the rupee, they said.
The rupee had lost 7 paise to close at 55.65 against the dollar in volatile trade on Tuesday.
Meanwhile, the 30-share BSE Sensex was down 9.47 per cent at 17,226.71 at 12.02 pm.
