Rupee rises 5 paise to 85.86 against dollar

Mumbai: The rupee recovered slightly from its record low and settled with a gain of 5 paise at 85.86 against the US dollar on Thursday amid firm American currency and elevated level of crude oil prices.

At the interbank forex, the rupee opened at its historic low level of 85.94 and touched an intra-day peak of 85.84. The local unit finally settled at 85.86 against the greenback, 5 paise higher from previous close.

On Wednesday, the rupee plunged 17 paise to settle at its all-time low level of 85.91 against the dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.05 per cent higher at 108.98.

The 10-year US bond yields also remained elevated at 4.67 per cent.