Indian rupee up 1.8pc after central bank move

MUMBAI: The Indian rupee rebounded early on Friday, a day after the central bank curbed speculation in the forwards market after the currency had plumbed record lows for three days in a row.

At 9:21 a.m. (0351 GMT), the rupee was at 52.68/69 per dollar, 1.8 percent stronger than its previous close of 53.64/65.

It strengthened to as much as 52.50 in early deals. On Thursday, it had touched a record low of 54.30.

After the market closed on Thursday, the Reserve Bank of India reduced trading limits for banks in the foreign exchange market, making it difficult for market players to keep speculative positions open for a long time.