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Indian rupee gained 1.2% in the day, its most in nine months against the dollar on inflows, limited demand for dollars from oil companies and expectation that the US Federal Reserve may not be able to reverse quantitative easing programme anytime soon."In the medium to long run, the rupee may stabilise on expected flows," said NS Venkatesh, head, treasury, IDBI Bank. "The impact of the restrictions on gold import and steps taken by the government to tackle policy issues 

Source: http://economictimes.indiatimes.com/markets/forex/rupee-gains-most-in-9-months-reform-move-helps-sentiment/articleshow/20816848.cms