Rupee declines 19 paise to 85.29 against US dollar in early trade

MUMBAI:  The rupee declined 19 paise to 85.29 against the US dollar in early trade on Tuesday amid waning foreign fund inflow and subdued domestic equity market sentiment.

Forex traders said though receding crude oil prices supported the local unit, investors stayed cautious ahead of the release of industrial and manufacturing production data for April as well as the first quarter GDP growth numbers, scheduled later this week.

At the interbank foreign exchange, the domestic unit opened at 85.15 and declined further to 85.29 against the greenback in initial deals, registering a loss of 19 paise over its previous close. PTI