Rupee gains 74 paise against US dollar in opening trade
Mumbai, Dec 16 The Indian rupee gained 74 paise to Rs 52.90 per US dollar in opening trade today after the Reserve Bank of India imposed restrictions on forward trading to check the slide of the domestic currency, which had tumbled to a record low of Rs 54.30 per dollar yesterday.
The rupee failed to maintain earlier gains but was still higher by four paise at 54.71 against dollar in late morning trade today on uneven demand and supply of the American currency from banks, despite strong dollar overseas.