Rupee depreciates against dollar on Thursday
The rupee ended at 88.73 (Provisional), depreciated by 25 paise from its previous close of 88.48 on Wednesday
Indian rupee depreciated against the U.S. dollar on Thursday with fading odds of a rate cut by the US Federal Reserve. Traders overlooked Sebi chairman Tuhin Kanta Pandey’s statement that the markets regulator Sebi is actively working towards the end-to-end digitisation of the Foreign Portfolio Investor (FPI) registration process, leveraging digital signatures to make it entirely paperless. On the global front, Australian dollar strengthened against other major currencies in the Asian session on Thursday, after the People's Bank of China maintained its benchmark lending rates for the sixth straight month.
Finally, the rupee ended at 88.73 (Provisional), depreciated by 25 paise from its previous close of 88.48 on Wednesday. The currency touched a high and low of 88.74 and 88.62 respectively.
