Rupee pared its gains and settled 3 paise lower at 85.57 against the greenback on Friday as robust inflow of foreign capital failed to boost the local currency amid negative equity market sentiment and higher crude oil prices.
The government data that showed the country' trade deficit widening in April also dragged the rupee downward, according to forex traders.
At the interbank foreign exchange, the local unit opened strong at 85.28 and traded in the range of 85.28 to 85.70. It eventually settled at 85.57, lower by 3 paise from its previous close.
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