INR recovers amid dollar weakness overseas; positive start to markets support

The Indian rupee recovered slightly in opening trades but remained largely range bound. INR opened at Rs 90.94 per dollar and climbed to a high of 90.88 so far during the day. Dollar weakness and positive local shares also supported the local unit. The dollar index slipped below 97.8 on Wednesday, giving back some of the previous sessions gains after President Donald Trump offered no indication of altering his tariff policies in his State of the Union address. Benchmark indexes Sensex and Nifty slumped by 1.3 percent and 1.1 percent, respectively on Tuesday, with uncertainties over the India-U.S. trade deal, U.S.-Iran tensions and worries over AI-related disruptions weighing on markets. Foreign investors net sold shares worth Rs 103 crore on Tuesday while domestic institutional investors net bought shares to the extent of Rs 3,161 crore, according to provisional exchange data.

 

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