Rupee briefly recovers to 96.51 vs USD on RBI speculation

Business Jul 24, 2026

The Indian rupee made a comeback on Friday, gaining 22 paise to 96.51 in early trade, before slipping 4 paise to settle at 96.57 against the US dollar after starting lower.

This recovery was mainly thanks to the Reserve Bank of India's likely intervention, just as global crude oil prices shot past $100 per barrel due to tensions in West Asia.

Sensex and Nifty fall sharply

Indian stock markets stayed in the red, with both Sensex and Nifty falling sharply in early trade.

Heavy selling by foreign investors and expensive oil kept the pressure on, making it a tough day for both stocks and the rupee.