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Rupee recovers on RBI intervention, settles at 96.53 against US dollar

Guavy AI Editorial Team
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USD
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The Indian rupee rebounded on Friday, settling at 96.53 against the US dollar after losing ground in the previous session.

The recovery of 20 paise came amid speculation that the Reserve Bank of India (RBI) may have intervened to stabilize the currency.

Forex traders pointed out that a combination of factors, including heightened tensions in West Asia and sustained negative sentiments at domestic equity markets, had put pressure on the rupee.

The interbank foreign exchange rate showed the rupee opening weaker at 96.81 before trading in the range of 96.30-96.81.

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