Indian rupee depreciated against the U.S. dollar on Thursday despite positive domestic markets. Traders overlooked the exchange data showing that Foreign Institutional Investors (FIIs) extended their buying streak for the second consecutive session on October 8, purchasing equities worth Rs 81.28 crore. Besides, Union Commerce and Industry Minister Piyush Goyal said no power on earth can stop India from becoming a developed nation by 2047 and that the government is taking a series of initiatives to promote the domestic economy, build infrastructure and expand international trade. On the global front, ringgit closed slightly lower against the greenback on Thursday as the US Dollar Index (DXY) stayed elevated, with investors remaining cautious ahead of a speech by the US Federal Reserve (Fed) Chair amid uncertainty over the federal government shutdown in the United States.

Finally, the rupee ended at 88.80 (Provisional), depreciated by 04 paise from its previous close of 88.76 on Wednesday. The currency touched a high and low of 88.81 and 88.74 respectively.