India, June 9 -- The rupee appreciated by 4 paise to close at 85.64 (provisional) against the US dollar on Monday, supported by strong domestic equities and sustained foreign capital inflows.
However, the currency's upward movement was capped by elevated global crude oil prices and a firm US dollar against major global currencies, according to traders.
They noted that while the rupee initially reacted positively to the RBI's rate cut, the sharp reduction has narrowed the interest rate gap with global peers, limiting further gains.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....