Rupee rises 17 paise to close at 85.40 against US dollar
Mumbai, May 19 (PTI) The rupee appreciated 17 paise to settle at 85.40 (provisional) against the US dollar on Monday, on weak US dollar index and a decline in crude oil prices. Forex traders said global investors were also cautious as global rating agency Moody’s downgraded US investment grade rating, leading to a fall in dollar index. At the interbank foreign exchange, the domestic unit opened at 85.43 and moved between the intra-day high of 85.35 and the low of 85.61 against the greenback. The unit ended the session at 85.40 (provisional), registering a gain of 17 paise over its