The Indian rupee edged lower in opening trades on Thursday tracking weak cues from equities but recovered to a near two week high thereafter. Local equities opened a tad lower as investors monitor persistent U.S. inflationary pressures and react to Nvidia's upbeat quarterly results and guidance. The potential downside may remain capped somewhat as Brent crude futures slipped toward $87 a barrel, extending losses for a fourth consecutive session amid signs of diplomatic progress in the Middle East. INR opened at Rs 95.50 per dollar and hit a low of 95.52 before recovering back to a high of 95.40 so far during the day. Fall in crude oil prices and pull back in dollar from previous day highs are however likely to support gains in the local unit.
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