The Indian rupee lost some ground in opening trades on Monday tracking a firm dollar overseas as investor's awaited fresh signals from Federal Reserve officials and a key US inflation report this week. Muted local equities also added pressure on the counter. INR opened at Rs 88.20 per dollar but recovered marginally so far during the day. On Friday, rupee appreciated around 9 paise to close at 88.11 against the US dollar, supported by optimism on US-India trade negotiations. INR pared early losses contributed by dollar firmness but falling crude oil prices limited downside. Indian shares also ended lower on Friday, with key benchmark indexes Sensex and Nifty snapping a three-day winning streak that was supported by GST reforms, encouraging progress in India-U.S. trade discussions and the Federal Reserve's first rate cut of the year. The benchmark BSE Sensex dropped 387.73 points, or 0.47 percent, to 82,626.23, while the broader NSE Nifty index ended down 96.55 points, or 0.38 percent, at 25,327.05.
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