Indian Rupee: Seen extending recovery on positive global cues

The Indian rupee is seen extending recovery in opening trades on Tuesday tracking positive global cues after US President Donald Trump suspended the 26 per cent tariffs on India till July 9 and persistent weakness in dollar overseas. On Friday, rupee surged 58 paise against the greenback to settle at 86.10 due to a sharp correction in the US dollar and a strong rebound in the domestic equity markets. Indian stock and currency markets were closed on Monday for Dr. Baba Saheb Ambedkar Jayanti. Asian markets were mixed this morning after rising sharply in the previous session. Japan's Nikkei average was up over 1 percent after U.S. President Donald Trump said he is exploring a pause in auto tariffs to allow time for supply chain adjustments.

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