INR extends recovery ahead of RBI policy

The Indian rupee extends recovery in opening trades on Friday on the back of improving sentiments and FII inflows following US-India trades deal. Easing crude oil prices from elevated levels are also seen supporting the counter. However, dollar strength and muted local equities could cap upside in the counter.Asian stock markets are trading mostly lower on Friday, following the broadly negative cues from Wall Street overnight, hurt by continued weakness in technology stocks which mirror their peers on the tech-heavy Nasdaq amid concerns about valuations and the impact of artificial intelligence. INR opened at Rs 90.28 per dollar and hit a high of 90.18 so far during the day. Yesterday, rupee appreciated 13 paise to close at 90.34 against the US dollar. Meanwhile investors shift their focus to RBI monetary policy scheduled for the day.

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