Sentiments appear steady for the Indian Rupee. The Indian rupee appreciated 15 paise to settle at 85.42 against the US dollar on Monday, on weak US dollar index. The dollar index was down amid rising concerns on US economic growth. Global investors were cautious as global rating agency Moody's downgraded US investment grade rating, leading to a fall in dollar index. Meanwhile, local shares fell modestly on Monday, with IT stocks leading losses after Moody's downgraded the U.S. credit rating by one notch to Aa1 from Aaa, citing rising levels of government debt and interest payments.