MUMBAI: The rupee fell sharply by 47 paise to close at 85.87 (provisional) against the US dollar on Monday amid rising global crude oil prices and a strong American currency.
Outflow of foreign funds fuelled by uncertainties over US President Donald Trump’s trade tariffs put further pressure on the local unit, according to forex traders.
At the interbank foreign exchange, the rupee opened at 85.53 against the US dollar and traded in the range of 85.51-86.03 before settling at 85.87 (provisional), lower by 47 paise from its previous close.
