The Indian rupee is expected to open little changed on Thursday as persistent dollar demand countered increasing confidence that the U.S. Federal Reserve will cut rates in the second quarter of next year. Non-deliverable forwards indicate the rupee will open nearly unchanged from 83.3250 in the previous session. The rupee's "absolute lack of acknowledgement" to the changing dollar and the U.S. interest rate outlook is "confounding to say the least", an FX trader at a bank said.

(Bloomberg) -- OpenAI said that Sam Altman was officially reinstated as chief executive officer and that it has a new initial board of directors, with Microsoft Corp. joining as a nonvoting observer.Most Read from BloombergSaudi Arabia Offers Iran Investment to Blunt Gaza WarCharlie Munger, Who Helped Buffett Build Berkshire, Dies at 99Bill Ackman Bets Fed Will Cut Interest Rates as Soon as First QuarterBond Yields Fall on Signs Fed Is in ‘Sweet Spot’: Markets WrapMusk’s Cybertruck Is Already a

Twelve days after OpenAI fired Sam Altman as CEO and Greg Brockman as board chairman, the company formally announced that it has hired them both back.

The dollar was rooted near a three-month low on Thursday and was set to post its steepest monthly decline in a year as investors ramped up bets that the Federal Reserve is done with rate hikes ahead of a crucial inflation report later in the day. The index is down 3.7% in November on growing expectations the Fed will cut interest rates in the first half of 2024. Investor focus will be on comments from Fed Chair Jerome Powell, who is due to speak on Friday in the wake Fed Governor Christopher Waller on Tuesday flagging a possible rate cut in the months ahead.

After one of the more dramatic few weeks in recent corporate history, OpenAI co-founder Sam Altman is officially its chief executive again.