Rupee falls 4 paise to 85.52 against dollar

Mumbai: The rupee dropped 4 paise to 85.52 against the US dollar on Monday, as dollar demand from importers, foreign fund outflows and a muted trend in domestic equities dented investor sentiments.

At the interbank forex, the rupee opened on a weak note and witnessed an intra-day low of 85.59 and a high of 85.43 against the US dollar. It settled for the day at 85.52, registering a fall of 4 paise over its previous close.

On Friday, the rupee registered the steepest fall in almost two years to hit its lifetime intra-day low of 85.80 and settled 21 paise lower at a record low of 85.48 against the US dollar.