Rupee recovers 18 paise to settle at 96.55 against U.S. dollar
The Indian rupee gained 18 paise to close at ₹96.55 against the U.S. dollar, likely supported by intervention from the Reserve Bank of India. This recovery comes amid pressures from foreign institutional investor outflows and negative sentiments in domestic equity markets, exacerbated by heightened tensions in West Asia. Forex traders noted these factors as contributing to the rupee's previous struggles.