The Indian rupee settled flat at 90.66 (provisional) against the US dollar in a range-bound trade on Monday, as positive momentum in domestic equities was offset by a strong US dollar in the overseas market. Lower crude oil prices supported the local unit, while foreign fund outflows limited its movement. Indian shares rose notably on Monday despite lackluster cues from global markets and continued declines in IT stocks on AI disruption fears. Investors shrugged off official data that showed India's wholesale prices increased more-than-expected in January to the highest level in ten months. Recovering from an early slide, the benchmark BSE Sensex ended the session up 650.39 points, or 0.79 percent, at 83,277.15. The broader NSE Nifty index jumped 211.65 points, or 0.83 percent, to 25,682.75. In the interbank foreign exchange market, the rupee opened at 90.63 against the US dollar and moved between an intraday high of 90.61 and a low of 90.72 during the session.

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