Rupee falls 9 paise to 85.96 against US dollar

MUMBAI: (Jun 5) The rupee depreciated 9 paise to 85.96 against the US dollar in early trade on Thursday, weighed down by dollar demand from foreign investors, oil companies, and importers.

Forex traders said market participants are now keenly awaiting the outcome of the Reserve Bank of India’s monetary policy meeting for further cues.

The Reserve Bank’s rate-setting panel started its three-day brainstorming on monetary policy on Wednesday, and the outcome is scheduled to be announced on June 6.