Rupee recovers 20 paise to settle at 96.53 against US dollar
The rupee recovered 20 paise to close at 96.53 against the US dollar on Friday amid likely intervention by the Reserve Bank of India (RBI).
The rupee recovered 20 paise to close at 96.53 against the US dollar on Friday amid likely intervention by the Reserve Bank of India (RBI).
A combination of factors, including heightened tensions in West Asia, FII 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 96.53, up 20 paise from its previous close.
