Currency Market News: Rupee slips 18 paise to 85.50 vs US dollar
Rupee depreciated by 18 paise to close at 85.50 (provisional) against the US dollar on Thursday, pressured by increased demand for the American currency from importers and foreign fund outflows. Forex traders attributed the rupee’s decline to strong dollar demand. However, gains in domestic markets and a drop in crude oil prices helped limit the…