Rupee falls 11 paise to 85.75 against dollar

Mumbai: The rupee depreciated 11 paise to close at a record low of 85.75 against the US dollar on Thursday, as strong dollar demand from importers and foreign fund outflows dented investor sentiments.

Forex traders said the dollar gained against most currencies during 2024 and continued to remain on a strong footing this year.

At the interbank forex, the rupee opened on a weak note and witnessed an intra-day low of 85.79 and a high of 85.68 against US dollar.

It settled for the day at 85.75, registering a fall of 11 paise over its previous close amid a sharp recovery in domestic equities.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.02 per cent lower at 108.46.