Indian rupee weakened against the U.S. dollar on Friday amid fund outflows from foreign institutional investors (FIIs). The FIIs were the net sellers of securities worth Rs 2,150.51 crore on Thursday’s session. Besides, uncertainty surrounding Iran-US negotiations over nuclear programme has sparked caution among investors. Meanwhile, the Monetary Policy Committee under the Reserve Bank of India has unanimously decided to keep the policy repo rate under the liquidity adjustment facility unchanged at 5.25%, citing positive inflation and growth outlook amid evolving economic conditions. On the global front, the Japanese yen strengthened against other major currencies in the Asian session on Friday, amid increasing expectations of a Bank of Japan’s rate hike and risk aversion that supported the gain of yen.

Finally, the rupee ended at 90.65 (Provisional), weakened by 31 paise from its previous close of 90.34 on Thursday. The currency touched a high and low of 90.83 and 90.18 respectively.