Rupee gains 12 paise to settle at 85.33 against US dollar

After a two-day pause, the rupee gained 12 paise to 85.33 against the US dollar on Thursday, on weak greenback, overnight decline in crude oil prices, and heavy FII inflows.

Forex traders said the rupee strengthened on the weak US dollar and overnight decline in crude oil prices amid slowing US business activity. The US Treasury yields also declined with the 10-year yield falling 3 basis points to 4.35 per cent.

At the interbank foreign exchange, the domestic unit opened at 85.60 and moved between the intra-day high of 85.25 and the low of 85.67 against the greenback. The unit ended the session at 85.33, registering a gain of 12 paise over its previous closing level. PTI