RBI intervention lifts rupee 22 paise to 96.5 despite Brent crude topping $100

The Indian Rupee recovered 22 paise against the US dollar in early trade. This recovery occurred despite crude oil prices breaching the $100 a barrel mark. The Reserve Bank of India's intervention likely helped stabilize the domestic currency. Foreign institutional investor outflows and weak domestic equities capped further gains for the Rupee. Brent crude prices rose amid escalating Middle East tensions and shipping route clashes.