The rupee consolidated in a narrow-range and settled for the day lower by 8 paise at 85.23 (provisional) against the US dollar on Tuesday, as the support from positive domestic equities was negated by dollar short-covering by investors.
orex traders said foreign fund inflows supported the domestic unit. However, a recovery in crude oil prices dented investor sentiment.
Moreover, concerns persisted over economic headwinds from tariffs and US monetary policy that could dampen demand.
At the interbank foreign exchange, the domestic unit opened at 85.11 and moved between the intra-day high of 85.07 and the low of 85.23 against the greenback.
The unit ended the session at 85.23 (provisional), registering a loss of 8 paise over its previous closing level on Tuesday, after witnessing a gaining streak for five straight sessions.
