Mumbai: Rupee recovered by 19 paise to 58.20 against Dollar in early trade on Wednesday at the Interbank Foreign Exchange market after RBI announced steps to check free-fall in Rupee, raising the limit for online repatriation of export proceeds by over three-fold to USD 10,000.
     
Besides, selling of American currency by banks and Dollar's weakness against other currencies overseas, supported Rupee, forex dealers said.
     
Rupee fell to all-time low of 58.98 intra-day against Dollar in on Tuesday’s trade on intense demand for the US currency, but ended 24 paise down at 58.39, a record low.
    
With an aim to arrest Rupee slide by boosting forex inflows, RBI had raised the limit for online repatriation of export proceeds by over three-fold to USD 10,000 and made it mandatory for units in Special Economic Zones to repatriate full value of exports within 12 months.
    
Meanwhile, the 30-share BSE Sensex fell by 90.87 points or 0.47 percent, to 19,052.13 in early trade on Wednesday.

(Agencies)

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