Rupee Falls 13 Paise To 85.74/$

Mumbai: The rupee snapped its seven-session rally and settled with a loss of 13paise at 85.74 against the US dollar on Tuesday, as increased demand for dollars from importers, coupled with the greenback’s recovery against major currencies, weighed on the rupee. Forex traders said the Indian rupee halted its seven-day winning streak, reflecting a shift in market sentiment towards risk aversion. However, mixed-to-positive domestic markets and foreign fund inflows cushioned the downside. At the interbank foreign exchange, the rupee opened at 85.59 and touched the high of 85.58 against the greenback during the day. The unit later turned volatile and hit the day’s low of 85.84 before ending the session at 85.74 against the dollar, 13paise lower from its previous closing level. On Monday, the rupee appreciated 37paise to close at 85.61 against the US dollar, wiping off all its losses in 2025. The domestic unit had added 154paise in the last seven trading sessions. “We expect the rupee to trade higher on foreign inflows and positive domestic equities. However, rising crude oil prices may cap sharp gains.