The Indian rupee recovered slightly in opening trades on Friday but continues to stay near record low levels. Mild gains in domestic equities and falling oil prices are supporting the domestic unit. INR opened at Rs 88.40 per dollar and revered to a high of 88.32 so far during the day. Yesterday, rupee slumped 36 paise and closed for the day at a fresh all-time low of 88.47 against the US dollar, as ongoing tariff issue between India and the US weighed heavily on the domestic currency's vulnerability. Meanwhile, Indian shares swung between gains and losses before ending slightly higher on Thursday amid optimism over GST reforms, hopes of Federal Reserve interest-rate cuts and comments from U.S. President Donald Trump that his administration is continuing negotiations to address trade barriers with India. The benchmark BSE Sensex ended the session up 123.58 points, or 0.15 percent, at 81,548.73, while the broader NSE Nifty index closed at 25,005.50, up 32.40 points, or 0.13 percent, from its previous close.
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