Mumbai, May 8 (UNI) The Rupee dropped for the third straight session on Thursday, depreciating by 77 paise to 85.60 against USD, on brisk demand for the greenback from foreign banks and exporters, dealers at the Forex Market said.
Geopolitical risks and rising crude oil prices further put pressure on the domestic unit, dealers informed.
The Indian currency bounced back by 28 paise to 84.54 in opening session, but then it erased early gains and settled at 85.60, tumbling down by 77 paise as compared to its previous close.
The firmness of American currency against other world currencies weighed down on the rupee, dealers informed.
The local unit recorded day's high and low at 84.50 and 85.66, respectively, dealers added.
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