Rupee declines 10 paise to settle at 85.48 against US dollar

MUMBAI: The rupee declined 10 paise to close at 85.48 (provisional) against the US dollar on Thursday due to a strong American currency against major crosses overseas and rising global crude oil prices.

However, positive domestic equity market and foreign fund inflows supported the local currency and restricted its slide, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 85.56 and touched the intra-day low of 85.62 against the greenback. The unit hit the day’s high of 85.40 before ending the session at 85.48 (provisional) against the dollar, 12 paise lower from its previous close. PTI