Rupee recovers 18 paise to settle at 96.55 against U.S. dollar
The Indian rupee recovered 18 paise to settle at 96.55 against the U.S. dollar following reported intervention by the Reserve Bank of India. The currency remains under pressure due to geopolitical tensions in West Asia and rising crude oil prices.
Why it matters
Currency fluctuations impact inflation and import costs, making this a critical indicator for India's economic stability amid global volatility.
The rupee recovered 18 paise to close at 96.55 (provisional) against the U.S. dollar on Friday (July 24, 2026), amid likely intervention by the Reserve Bank of India (RBI).
A combination of factors, including heightened tensions in West Asia, Foreign Institutional Investor outflows, and sustained negative sentiments at the domestic equity markets, maintained pressure on the local unit, according to forex traders.
At the interbank foreign exchange, the rupee opened weaker at 96.81 and traded in the range of 96.30-96.81 before eventually settling at 96.55 (provisional), up 18 paise from its previous close.
The rupee ended 20 paise weaker at 96.73 against the U.S. dollar on Thursday (July 23, 2026).
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