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The Indian rupee recovers well on Friday morning in Asia as the Reserve Bank of India (RBI)'s deadline hit for banks to close out their arbitrage trades. INR opened at Rs 92.58 per dollar and hit a three and half week high of 92.41 so far during the day. Yesterday the counter closed at 92.51. Positive cues from equities also supported the local unit although ascending oil prices and firmness in greenback could limit upside. The Nifty and Sensex opened with a positive, sharp upward movement, mirroring strong Asian-Pacific market gains. Sensex opened over 600 points higher, while Nifty surpassed the 23,950 level.
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