The rupee gained 10 paise in early trade on strength in equities markets following a weak set of home sales in the US, which raised the possibility of stimulus continuing in the US.
The rupee was last trading at 59.62 against the dollar at 9.50 am IST.
The RBI announced further measures late on Monday to reduce gold imports and improve the current account deficit to help prevent any more slide in the rupee.
Dealers say that the rupee is likely to remain rangebound in the near term in the absence of any fresh triggers.
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