Rupee bounces back, rises to 96.51 against U.S. dollar

Mumbai: The rupee strengthened in early trade on Friday (July 24, 2026), gaining 22 paise to 96.51 against the U.S. dollar.

The recovery came after the rupee ended 20 paise lower at 96.73 on Thursday. Traders said likely RBI intervention helped stem further losses as global crude oil prices crossed the $100 per barrel mark amid heightened tensions in West Asia.

A softer U.S. dollar provided mild support to the domestic currency. However, pressure remained due to Foreign Institutional Investor outflows and a sustained slide in domestic equity markets.

Benchmark indices opened lower on Friday, with the Sensex tumbling over 500 points in early deals, adding to risk-off sentiment.

Forex traders said the rupee could remain volatile amid crude price swings and geopolitical uncertainty.