Indian rupee up 8 paisa at 59.30 against US dollar on RBI aid

Written by Reuters | London | Updated: Jun 4 2014, 21:40pm hrs
Indian rupeeIndian rupee up 8 paisa at 59.30 against US dollar.
Indian rupee was trading at 59.30/31 against US dollar versus its previous close of 59.3850/3950 on exporter dollar sales.

RBI measure announced on Tuesday allowed foreign investors to participate in currency derivatives to attract dollar inflows.

Reserve Bank of India's steps to liberalise foreign money flows are seen as indicators of its confidence on the external sector and the rupee.

The RBI relaxed rules on overseas remittances, allowing Indians to move up to $125,000 from $75,000 after the exchange rate stabilised.