Rupee finds footing: Closes 7 paise higher at 85.80 against dollar; RBI policy outcome, US data to guide next move

The rupee strengthened marginally to 85.80 against the US dollar, supported by easing oil prices and positive domestic equities, reversing a two-day losing streak. Traders are cautious ahead of the RBI’s rate decision, with expectations of a potential rate cut looming. The domestic equity market showed positive momentum, with both Sensex and Nifty closing higher.