Mumbai, May 14 (UNI) The rupee on Wednesday gained 16 paise to close positive at 85.26 against USD on brisk sell-off of the greenback by foreign banks and importers, dealers at the Forex Market said.

The local unit that had rallied by 37 paise to 85.05 in opening session pared early gains during the day, but finally ended positive at 85.26, up by 16 paise as compared to its previous close.

The weakness of dollar against other major world currencies pushed the rupee up, coupled with firm close of domestic equity market today, also boosted the sentiment.

The Indian currency recorded day's high and low at 85.00 and 85.30, respectively, dealers added.

UNI NV SS