In the afternoon trades, the BSE IT index gained 24 points to 4,758.66 owing to the decrease in the rupee values as against the dollar.
In order to tame the rupee, the government had constricted foreign-borrowing rules on 7 August 2007. Now, external commercial borrowings (ECBs) over $20 million have been permissible only for foreign currency expenditure for allowable end-uses and are required to be parked abroad.