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MUMBAI, May 24: India's rupee posted its first gain against the dollar in four days on Thursday, rebounding from an all-time low on reports that the central bank may consider fresh measures to help the currency recover.
The Indian unit hit 56.36 against the dollar in early trade — its seventh straight record low — but recovered to 55.55 on reports that the Reserve Bank of India had not ruled out selling dollars directly to oil importers.
Such a move would remove a sizeable source of demand for the greenback from the market and ease pressure on the weak rupee, dealers said.
The rupee closed on Wednesday at 55.96 to the dollar.—AFP
