Rupee rises 5 paise to 96.48 against U.S. dollar in early trade
The Indian rupee saw a slight recovery against the U.S. dollar, rising 5 paise to 96.48 in early trade. This movement occurred despite ongoing pressure from rising global crude oil prices and geopolitical tensions in the Middle East.
Why it matters
Currency fluctuations and oil price volatility directly impact India's import costs and overall economic stability.
The rupee rose 5 paise to 96.48 against the U.S . dollar in early trade on Thursday (July 23, 2026), on possible intervention by the Reserve Bank even as heightened tensions in West Asia maintained pressure on global crude oil prices.
Foreign Institutional Investor outflows and sustained negative sentiments in the domestic equity markets added pressure on the local unit, while a weaker greenback provided some respite, forex traders said.
At the interbank foreign exchange, the rupee opened at 96.53 before inching up to 96.48, up 5 paise from its previous close.
The rupee depreciated by 28 paise to close at 96.53 against the U.S. dollar on Wednesday (July 22, 2026).
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