Indian rupee continued its downtrend for the second-straight day against the US dollar on Friday, due to strong demand for the American currency from importers. Traders remained cautious as SBI Research Report stated that India's economic growth is expected to be lower at 6.3 per cent in the fiscal year 2025-26 (FY26) compared to the Reserve Bank of India’s (RBI's) projection of 6.5 per cent. Besides, heavy losses in domestic equity markets also weighed on the sentiment of the local currency. However, inflow of foreign funds and a drop in Brent crude prices supported the domestic unit at lower level. On the global front, the U.S. dollar edged higher on Friday, on course for strong weekly gains ahead of Fed chair Jerome Powell’s speech at the annual Jackson Hole symposium.

Finally, the rupee ended at 87.52 (Provisional), depreciated by 27 paise from its previous close of 87.25 on Thursday. The currency touched a high and low of 87.55 and 87.32 respectively.