The rupee opened at 95.21 on the inter‑bank market, slipped to 94.94 at its intraday peak before settling at 94.93 – a 33‑paise lift that snapped Thursday’s meagre 2‑paise rise.
A softer dollar index, slipping 0.37 % to 101.66, and a 1.03 % drop in Brent crude to $114.13 helped buoy the currency, while the RBI’s discreet interventions were credited for the rebound.
Meanwhile, the Sensex finished up 308.49 points at 74,459.53 and the Nifty 50 gained 116.35 points to 23,053.10, giving the market a brief lift that was quickly tempered by global volatility.
Research analyst Anuj Choudhary warned that a fresh Middle‑East flare‑up could tilt the rupee back into negative territory, and that any uptick in oil would weigh on the rate. He added the rupee is likely to trade between 94.80 and 95.35 in the coming weeks.
In a separate development, the IMF’s Julie Kozack declared that India should let the exchange rate move freely to absorb energy shocks, a stance that underlines the debate over RBI intervention.
With the RBI poised to step in if the rupee slips beyond 95.00, traders now await the next policy meeting to gauge how much support the central bank will provide.