Rupee depreciates against dollar on Friday
The rupee ended at 90.16 (Provisional), depreciated by 26 paise from its previous close of 89.90 on Thursday
Indian rupee depreciated against the U.S. dollar on Friday as investors feared the additional US tariffs on India. US President Donald Trump has greenlit a sanctions bill that could impose 500% tariffs on countries buying Russian oil. Besides, persistent fund outflows by Foreign Institutional Investors (FIIs) weighed on the rupee. FIIs were the net sellers on Wednesday’s session, offloading securities worth Rs 1,527.71 crore. On the global front, the Japanese yen weakened against other major currencies in the Asian session on Friday, amid an intensifying China-Japan dispute, and the uncertainty around the timing of the next Bank of Japan interest rate hike depressed the safe-haven JPY.
Finally, the rupee ended at 90.16 (Provisional), depreciated by 26 paise from its previous close of 89.90 on Thursday. The currency touched a high and low of 90.25 and 89.88 respectively.
