NEW DELHI: The rupee on Friday opened 8 paise up at 72.52 against the US dollar on account of selling of American currency by banks and exporters.
The local currency on Thursday ended almost flat at 72.60 against the American currency.
The Reserve Bank of India (RBI) on Thursday allowed banks to consider a further 2 per cent of their treasury holdings as high-quality liquid assets (HQLAs) under the Basel-III calculations, potentially releasing up to Rs 2 lakh crore and soothing a market jittery about credit freeze.
The government on Wednesday raised import duties on 19 non-essential items in a bid to check the widening current account deficit and tackle a sharp slide in the rupee.Meanwhile, the Reserve Bank of India allowed banks to dip further into statutory cash reserves in a bid to ease a liquidity squeeze afflicting the nation's money markets.The latest move by the central bank follows concerns engulfing the non-banking financial companies (NBFCs) over tight liquidity conditions.Meanwhile, domestic equity markets opened in the green following mixed global cues.
The BSE Sensex opened 129 points, or 0.35 per cent, up at 36452.74, while the NSE Nifty index opened 30.55 points, or 0.28 per cent, up 11,008.