Rupee falls 1 paisa to close at 85.59 against US dollar
Mumbai, May 21 (PTI) The rupee consolidated in a narrow range and settled for the day down by 1 paisa at 85.59 (provisional) against the US dollar on Wednesday, on dollar demand from importers and foreign banks as well as surge in crude oil prices. Forex traders said market sentiment soured under pressure from rising US Treasury yields and persistent foreign fund outflows. However, positive domestic markets and a weak US dollar index cushioned the downside. At the interbank foreign exchange, the domestic unit opened at 85.65 and moved between an intra-day high of 85.53 and a low of 85.70