The rupee weakened by 10 paise to close at 85.48 (provisional) against the US dollar on Thursday, weighed down by a strong dollar against major global currencies and rising international crude oil prices.
However, gains in the domestic equity markets and continued foreign fund inflows helped limit the rupee’s decline, according to forex traders.
At the interbank foreign exchange market, the rupee opened at 85.56, hit an intra-day low of 85.62, and touched a high of 85.40 before finally settling at 85.48, marking a 12 paise drop from its previous close.