INR extends rebound amid dollar weakness overseas

The Indian rupee extends rebound against dollar in opening trades on Monday tracking weakness in greenback and positive cues from domestic equities. Asian stock markets are trading mostly higher on Monday, following the positive cues from Wall Street on Friday, as the markets cheer the U.S. Supreme Court striking down most of US President Donald Trump's global tariffs saying the International Emergency Economic Powers Act, does not authorize the president to impose tariffs. INR opened at Rs 90.76 per dollar and hit a high of 90.71 so far during the day. On Friday, rupee ended at 90.45. Meanwhile, the dollar index weakened against major currencies as persistent uncertainty around the United States (US) trade policy and disappointing economic data weighed on investor sentiment. On Friday, the benchmark BSE Sensex jumped 316.57 points, or 0.38 percent, to 82,814.71. The broader NSE Nifty index surged 116.90 points, or 0.46 percent, to 25,571.25.

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