Rupee rises 3 paise to close at 85.69 against US dollar

Mumbai: The rupee pared its initial losses and settled for the day higher by 3 paise at 85.69 (provisional) against the US dollar on Wednesday, supported by a resurgence of foreign fund inflows.

Forex dealers said the rupee is facing renewed pressure on liquidity constraints, concerns over reciprocal tariff implementations and month-end demand for the US currency from importers.

At the interbank foreign exchange, the rupee opened at 85.71 then touched an intraday high of 85.68 and a low of 85.98 against the greenback. The unit ended the session at 85.69 (provisional) against the dollar, registering a gain of 3 paise from its previous closing level.