Rupee Rebounds, Settles at ₹95.17 Amid RBI Intervention

The Indian rupee recovered from its initial losses to settle at ₹95.17 against the US dollar on Monday, up 26 paise from the previous close.

This rebound was partly attributed to possible RBI intervention and better-than-expected inflows under the FCNR(B) scheme.

The rise in Brent crude prices, driven by renewed Middle East supply concerns, weighed on the local unit. The dollar index fell 0.18% to 99.52 as the greenback's strength against a basket of six currencies was tempered.