The rupee pared its intraday losses and settled for the day on a positive note higher by 11 paise at 85.68 against the US dollar on Monday.
Forex traders said the Reserve Bank of India's interventions aimed at stabilising the rupee, helped in restricting the decline in the local unit.
However, the rupee's outlook remains clouded by a mix of domestic as well as global challenges. Increased dollar demand, a steep fall in domestic equity markets and unabated outflow of foreign capital continue to dent investors' sentiments, they said.
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