Rupee slips 38 paise to close at 85.82 against US dollar after Monday mayhem

The Indian rupee experienced a substantial decline, falling 38 paise to settle at 85.82 against the US dollar due to global market volatility linked to trade tensions and economic slowdown fears. Despite falling crude oil prices, the rupee weakened as both FIIs and domestic investors withdrew. The RBI's monetary policy decision and lower crude prices may influence future rupee trends.