The Reserve Bank on Friday announced that it will sell government bonds worth Rs 22,000 crore every Monday to check volatility in the forex market.
Analysts had said that people who have long positions on the dollar may take a hit due to RBI measures as liquidity is expected to go out of the system.
The rupee had gained 42 paise to close at 60.88 against the US currency in the previous session on Friday. Forex market remained closed on Friday on the occasion of Eid.
Meanwhile, the BSE benchmark index Sensex gained 162.65 points, or 0.86 percent, to 18,951.99 in morning trade on Monday.


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