Mumbai, Oct. 16 -- The Indian rupee continues to bounce higher around a one and half month high amid positive cues from equities on renewed hopes of a Federal Reserve rate cut. INR opened at Rs 87.76 per dollar and hit a high of 87.68 so far during the day. Yesterday, rupee rebounded sharply by 75 paise to close at 88.06 against the US dollar, posting its biggest intraday gain in nearly four months, due to a surge in the domestic markets. Indian shares rose notably on Wednesday after Federal Reserve Chair Jerome Powell signaled two more quarter-point interest-rate cuts this year, citing a sharp slowdown in hiring. Investor sentiment was also underpinned by a weaker dollar in international markets and falling oil prices amid fears of an im...