Mumbai, Jan. 30 -- The Indian rupee is likely to play cautious this week ahead of key events. Equities are also expected to be muted following hawkish Fed policy statement. Besides, investors also await cues upcoming Union Budget this weekend and from next week's MPC meeting. Yesterday, rupee pared its initial losses and settled for the day on a positive note, higher by 2 paise to close at 86.55 against the US dollar, supported by positive domestic markets, while a strong US dollar and a recovery in crude oil prices capped sharp gains. The benchmark S&P/BSE Sensex jumped 631.55 points, or 0.83 percent, to 76,532.96 while the broader NSE Nifty index closed up 205.85 points, or 0.90 percent, at 23,163.10.
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