MUMBAI: The rupee appreciated 4 paise to close at 85.64 (provisional) against the US dollar on Monday, supported by a firm trend in domestic equities and foreign capital inflows.
However, elevated global crude oil prices and the US dollar against major rivals overseas restricted its rise, traders said.
The rupee benefitted from the initial reaction to the RBI rate cut, but the aggressive rate cut narrows the interest rate differential with global peers, they added.
