Indian rupee depreciated against the U.S. dollar on Thursday amid uncertainty over the India-US trade deal. Besides, persistent foreign fund outflow dampened investors’ sentiments. As per exchange data, Foreign Institutional Investors sold equity worth Rs 1,651.06 crore on Wednesday. Traders were cautious as Think tank -- the Global Trade Research Initiative (GTRI) has said that India should remain extremely cautious about giving duty concessions to the US on agricultural crops or genetically modified products, and should insist on a drastic cut in the high tariffs. It added India should also avoid making commitments until the US Supreme Court delivers its verdict on President Donald Trump's tariff authority, which could reshape the entire negotiating table overnight. On the global front, Swiss franc strengthened against other major currencies in the European session on Thursday, after the Swiss National Bank left its interest rate unchanged for the second straight meeting amid weaker inflation outlooks.

Finally, the rupee ended at 90.32 (Provisional), depreciated by 37 paise from its previous close of 89.95 on Wednesday. The currency touched a high and low of 90.48 and 89.95 respectively.