Finance
On Wednesday, the rupee fell 9 paise to settle at 85.68 (provisional) against the US dollar, weighed down by sluggish domestic equity markets and rising crude oil prices.
Forex experts said a minor recovery in the US dollar weighed on the rupee as market participants awaited the conclusion of the India-US trade agreement, which is nearing completion.
The native currency opened at 85.59 against the US dollar on the interbank foreign exchange, reaching an intraday high of 85.57 and a low of 85.75 during the day.
At the close of Wednesday’s trading session, the local unit traded at 85.68 (provisional), down 9 paise over its previous closing price.
On Tuesday, the rupee gained 17 paise to settle at 85.59 against the US dollar.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, increased 0.14 percent to 96.95.
