In the Forex market, the rupee today depreciated by 42 paise to close at 86 rupees and 26 paise against the US dollar, primarily driven by strong demand for dollars from importers, a looming global trade war and ongoing outflows of foreign funds from Indian equity markets. The dollar index, which indicates the US dollar’s strength against a basket of six other leading currencies, was trading at 103.06 in intraday trade.