The rupee gained slightly on positive domestic equities. The rupee gained early on Friday as the dollar took a breather after a volatile overnight session as traders were straddled between red-hot US inflation data pointed to more aggressive interest rate hikes and a buying sentiment triggered by oversold stocks and oversold currencies. Reuters reported that the USD/INR 1-month non-deliverable forward jumped to 83 initially, but similar to the dollar index, retreated to near 82.50. "Asian markets will probably play catch-up in early trading today, but after that, they might do better to take a more cautious stance ahead of the weekend," said Robert Carnell, Regional Head of Research for Asia-Pacific at ING. A fall from 6 per cent to 4 per cent won't be enough. Source - NDTV #rupee #dollar