Rupee falls 21 paise to 85.60 against US dollar amid weak equities, FII outflows
[ad_1] The rupee depreciated by 21 paise to close at 85.60 (provisional) against the US dollar on Tuesday, as a stronger greenback and persistent foreign fund outflows weighed on market sentiment.Forex traders said the domestic unit came under pressure due to negative trends in local equity markets and geopolitical uncertainties. Investors also remained cautious ahead of the Reserve Bank of India’s (RBI) upcoming monetary policy decision, PTI reported.The RBI’s Monetary Policy Committee (MPC) begins its three-day policy deliberation on Wednesday, with the outcome scheduled for announcement on June 6.At the interbank foreign exchange market, the rupee opened at 85.55 and traded between a high of 85.44 and a low of 85.60 against the dollar. It eventually settled at the day's lowest point, recording a 21 paise loss from its previous close.On Monday, the rupee had gained 16 paise to finish […]