The rupee pared initial losses and edged up 7 paise to close at 85.55 against the US dollar on Thursday, following a weak greenback against major crosses overseas and a decline in US treasury yields.
Forex traders said the dollar declined on weaker-than-expected ADP Non-Farm Employment data from the US.
While a decline in crude oil prices supported the local unit, a muted trend in domestic equities capped sharp gains for the local unit, they said.
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