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Rupee depreciates against US dollar on Friday

27 Dec 2024 Evaluate

Indian rupee depreciated against the US dollar on Friday amid continued dollar strengthening and capital outflows from India. Sentiments were down beat as Global Trade Research Initiative (GTRI) stated that the depreciation of Indian rupee against the US dollar is expected to push the country's import bill by about $15 billion. On the global front, dollar firmed on Friday, while the yen hovered near a five-month low as traders chewed over contrasting messaging from a hawkish U.S. Federal Reserve and a cautious Bank of Japan.

Finally, the rupee ended at 85.48 (Provisional), depreciated by 21 paise from its previous close of 85.27 on Thursday. The currency touched a high and low of 85.80 and 85.31 respectively.


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