Indian rupee depreciated against the U.S. dollar on Thursday amid a firm greenback due to its higher demand from importers and banks. Traders overlooked International Monetary Fund’s statement that India's economy is estimated to grow at 6.6 per cent in 2025-26, noting that the Goods and Services Tax reforms are likely to help cushion the country from the adverse impact of the 50 per cent tariffs imposed by the US. Besides, the commerce ministry has said that India and the UAE have discussed issues related to market access, data sharing, allocation of gold import quota, and anti-dumping matters, services, Rules of Origin, BIS licensing to boost economic ties. On the global front, ringgit ended higher against the US dollar on Thursday as talks of a possible interest rate cut in the US gained momentum. 

Finally, the rupee ended at 89.35 (Provisional), depreciated by 12 paise from its previous close of 89.23 on Wednesday. The currency touched a high and low of 89.40 and 89.19 respectively.