The rupee depreciated 10 paise to 85.49 against the US dollar in early trade on Tuesday amid a slight recovery in the American currency against major rivals, higher crude oil prices and outflow of foreign funds.
Volatile domestic equity markets ahead of the Reserve Bank’s monetary policy announcements also weighed on the Indian currency, forex traders said.
RBI’s Monetary Policy Committee (MPC) will begin the deliberations on its next bi-monthly policy on June 4 and the outcome is scheduled to be announced on June 6. PTI
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