Indian Rupee: INR hits 85 per US dollar mark

Indian rupee is supported today, hitting around 85 per US dollar in early moves. Rupee edged up in volatile trades yesterday, holding near three month high against the US dollar. The US dollar index slipped near 101 mark to test five month low. Dollar index added to these losses today as equities reeled under pressure and US 10 year treasury yields fell near 4%, testing a five month low. INR gained after losing initially. It tested around 85.70 per US dollar before witnessing a robust recovery as local equities came off their lows. INR ended at 85.30 per US dollar, up 22 paise on the day.

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