Dealers said selling of the American currency by banks and exporters after the RBI announced stern measures on Wednesday to support the rupee and dollar's weakness against other currencies overseas helped rupee to trade a shade higher.
The Reserve Bank on Wednesday reduced the limit for overseas direct investment (ODI) by domestic companies, other than oil PSUs, under the automatic route from 400 per cent of net worth to 100 per cent to curb forex outflow. Oil India and ONGC Videsh are exempt from this limitation.
Meanwhile, the BSE benchmark index Sensex fell by 145.82 points, or 0.75 per cent, to 19,221.77 in early trade today.
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