INR recovers ground as dollar stays pressured

The Indian rupee recovered some lost momentum in opening trades on Thursday tracking weakness in dollar overseas and positive cues from equities. Indian shares commenced higher on Thursday after U.S. chipmaker Nvidia forecast first-quarter revenue above market estimates, helping ease concerns that momentum in artificial intelligence spending was cooling. INR opened at Rs 90.86 per dollar and climbed to a high of 90.81 so far during the day. Meanwhile, ongoing uncertainty regarding US tariff policies is keeping the dollar pressured. Yesterday, rupee ended the day almost flat at 90.91 against the US dollar amid higher global crude oil prices and foreign fund outflows. The benchmark indices ended the session up 50.15 points, or 0.06 percent, at 82,276.07, after having surged to a high of 82,957.91 earlier on the back of firm cues from global markets as new U.S. tariffs came into effect at 10 percent under a different legal framework. The broader NSE Nifty index hit an intraday high of 25,652.60 before closing up 57.85 points.

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