Indian rupee depreciated against the US dollar on Friday as uncertainty over the India-US trade deal and persistent foreign fund outflows dented investor sentiment. The exchange data showed that Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,020.94 crore on Thursday. Investors overlooked the report that the commerce ministry reportedly said that India and the US have concluded two-day talks with both sides exchanging views on trade-related issues, including the ongoing negotiations for a mutually beneficial bilateral trade agreement. Besides, Union Commerce Minister Piyush Goyal has exuded confidence in overcoming issues to finalise a freed trade agreement with the European Union. On the global front, British pound weakened against other major currencies in the European session on Friday, after the U.K. economy contracted for the second straight month in October. U.K. Gross domestic product fell unexpectedly by 0.1 percent month-on-month in October, the same pace of drop as seen in September. GDP was forecast to grow 0.1 percent.

Finally, the rupee ended at 90.49 (Provisional), depreciated by 17 paise from its previous close of 90.32 on Thursday. The currency touched a high and low of 90.56 and 90.28 respectively.