INR regains lost momentum on easing oil prices and sharp dollar pullback

The Indian rupee recovered some of its lost momentum in opening trades on Friday tracking a weak greenback overseas and easing international oil prices.

INR opened at Rs 95.20 per dollar and hit a high of 95.16 so far during the day.

Yesterday, rupee settled at 95.35 per dollar.

Indian shares opened higher on Friday, extending gains from the previous two sessions as new data showed U.S. hiring slowed after a three-month streak of overperformance, supporting the case for the Federal Reserve to continue to hold rates steady for now.

U.S. jobs growth slowed sharply in June, and the two prior months' data were revised lower, raising expectations that the Fed will hold rates this month and potentially in September.

The NIFTY 50 is trading at 24,331.15 (up 0.64%) while the BSE SENSEX is trading at 77,962.94 (up 1.17%), indicating a strong bullish momentum driven by a massive recovery in the IT sector.

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