Rupee falls 26 paise to 85.66 against US dollar

MUMBAI: The rupee fell 26 paise to 85.66 against the US dollar in early trade on Monday amid FII outflows and a weak opening at the domestic equity markets.

The US on Sunday stepped up pressure on trading partners to make new deals before the July 9 deadline, warning countries that higher tariffs could kick in on August 1, putting further pressure on the rupee.

However, a weaker greenback, lower global crude oil prices and the rise in the country’s forex reserves prevented further losses in the local unit, according to forex traders.