85 breached
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
The rupee on Tuesday appreciated 37 paise higher to provisionally close at 75.66 against the US dollar, following a rally in the domestic equity market and sustained foreign fund inflows.
Forex dealers said a weak US dollar against major currencies overseas also helped the domestic unit.
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At the interbank foreign exchange market, the rupee opened strong at 75.86. During the session the domestic unit swung between a high of 75.65 and a low of 75.89.
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It finally settled at 75.66 against the US dollar, registering a rise of 37 paise over its previous close of 76.03.
On the equities front, the 30-share BSE benchmark Sensex was trading 397.86 points higher at 35,309.18 and broader Nifty rose 122.60 points to 10,433.80.
Foreign institutional investors were net buyers in the capital market, as they bought equity shares worth Rs 424.21 crore in the previous trading session on Monday, according to provisional exchange data.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.13 per cent to 96.91.
Brent crude futures, the global oil benchmark, rose 0.67 per cent to USD 43.37 per barrel.
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