Rupee falls 7 paise to close at 85.40 against US dollar

MUMBAI: (Apr 25) The rupee pared its initial gains and settled for the day lower by 7 paise at 85.40 against the US dollar on Friday, amid heightened geopolitical tensions and a negative trend in the domestic markets.

Forex traders said escalated geopolitical tensions, following a terror attack in Pahalgam, Jammu & Kashmir weighed on market sentiment.

Moreover, a muted trend in domestic equities and positive US dollar index dented investors’ sentiment further. PTI