The Indian rupee slipped 5 paise to ₹96.73 against the dollar on Friday, reversing a three‑session decline that began at ₹96.78 on Thursday. It opened at ₹96.74 and traded between ₹96.51 and ₹96.77 before settling at the close.
Brent crude futures fell 1.28% to $102.95 a barrel, while the dollar index dipped 0.04% to 102.09. The weaker commodity price base eases India’s import bill and lightens dollar demand from domestic oil importers.
Senior research analyst Dilip Parmar of HDFC Securities noted that the rupee’s rally aligns with a broader Asian currency lift and risk‑on sentiment, citing a potential RBI intervention as a backstop.
Equity markets mirrored the currency’s mood: the BSE Sensex gained 879.09 points to 72,472.33, and the NSE Nifty rose 288.65 points to 22,520.45. Yet foreign institutional investors sold a net ₹12,943.58 crore of Indian equities on Thursday.
Looking ahead, analysts see a near‑term resistance at ₹97, with support around ₹95.30. The rupee’s trajectory will hinge on the dollar’s performance, oil prices, and any forthcoming RBI policy moves.