Rupee rises tracking gains in shares
May 22 2014 , Mumbai
However, traders anticipate the Reserve Bank of India to step in to buy dollars, curbing gains in the rupee.
Separately, the RBI eased gold import rules on Wednesday by allowing more private agencies to ship the precious metal.
Reuters had reported earlier on Wednesday that the central bank and the finance ministry officials would recommend the new government to relax gold import rules.
The rupee is seen moving in a 58.40 to 58.90 range during the session.