MUMBAI: The rupee depreciated 27 paise to 85.37 (provisional) against the US dollar on Tuesday, tracking a recovery in American currency index, negative domestic equity market and muted foreign fund inflow.
According to forex analysts, investors also moved cautiously awaiting domestic industrial and manufacturing production data for April as well as the first quarter GDP growth numbers to be released this week.
At the interbank foreign exchange, the domestic unit opened at 85.15 and moved between the high of 85.11 and the low of 85.45 against the greenback during intraday trade. The unit settled at 85.37 (provisional) against the dollar, registering a loss of 27 paise over its previous close.
