INR recovers slightly amid range bound movements

The Indian rupee recovered slightly in opening trades on Friday but is staying within a bounded range as dollar index rebounds marginally overseas. Meanwhile local equities are seen on a tepid note despite firm cues from global markets on continued optimism around artificial intelligence. Indian stock markets were closed on Thursday on the occasion of Dussehra and Gandhi Jayanti. Benchmark indexes Sensex and Nifty jumped around 0.9 percent each on Wednesday to snap an eight-day losing streak after the RBI held the repo rate unchanged at 5.5 percent, lowered its inflation forecast and raised growth projections. Rupee on Wednesday recovered 9 paise from its all-time closing low to settle at 88.71 against US dollar, as the Central Bank in its monetary policy decision announced a host of measures to support exporters and bring stability to the domestic unit. Rupee advanced against the US dollar as the Reserve Bank of India (RBI) left the repo rate unchanged at 5.5 per cent and maintained a neutral stance in its fourth Monetary Policy of FY26.

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