Rupee bounces back from record low; up 17 paise against dollar

Dealers said besides restrictions imposed by the Reserve Bank to stabilise the domestic unit, a higher opening in the stock market and other Asian currencies gaining against the dollar, also supported the rupee's value.

As the rupee plunged to all-time low of 55.03 against the American currency yesterday, the RBI imposed restrictions of USD 100 million on "position limit" for forward contracts by banks.

Meanwhile, the 30-share BSE Sensex recovered by 151.98 points, or 0.94 per cent, to 16,335.24 in early trade today.