The Indian rupee appreciated by 16 paise to 85.41 against the US dollar in early Monday trade (May 19), driven by a weak dollar, strong foreign fund inflows, and falling crude prices. Market remained cautious due to Moody’s downgrade of US rating and global uncertainties.

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• Rupee opens at 85.43, rises to 85.41 vs dollar
• Gains 16 paise from last close of 85.57
• Support from weak dollar index (down 0.28% to 100.81)
• Brent crude down 0.43% to $65.13/barrel; easing import pressure
• FIIs net buyers, invested ₹8,831 crore in equities on Friday
• RBI forex reserves up $4.55 bn to $690.6 bn (May 9 week)
• Previous week’s reserves dropped by $2.06 bn
• Moody’s downgrades US investment grade rating
• Market cautious; rupee touched 85.61 intraday low
• Rupee expected to trade between 85.00–85.80 range