Mild recovery in dollar overseas ahead of the U.S. Federal Reserve's policy decision on Wednesday could limit upside in the Indian rupee in opening trades on Tuesday although local equities set for a positive start is expected to support. Fed officials are expected to hold rates steady and investors would focus on the updated economic projections and Chair Jerome Powell's press conference for clues on the path ahead. DXY is up 0.20% at 103.21. Yesterday, rupee appreciated 24 paise to close at 86.81 against the US dollar. Local shares closed higher on Monday after U.S. Treasury Secretary Scott Bessent said he is not worried about the recent market downturn and China announced plans featuring measures to boost wages and stabilize stock and real estate markets. The benchmark 30-share BSE Sensex ended the session up 341.04 points, or 0.4 percent, at 74,169.95. The broader NSE Nifty index closed up 111.55 points, or half a percent, at 22,508.75.However, surge in crude oil prices could continue to weigh down the local unit.

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