Indian rupee depreciated against the U.S. dollar on Thursday amid the strengthening American currency and continuous outflow of foreign funds. Traders took note of a State Bank of India's (SBI) report stating that during the first nine months of the current financial year, Indian companies announced investments of over Rs 32 trillion, a 39 per cent increase compared to Rs 23 trillion in the same period of the previous financial year, with private sector contributions rising to 70 per cent. On the global front, dollar traded in narrow ranges against major peers on Thursday, as the currency continued to struggle for direction in the absence of concrete announcements on tariffs from U.S. President Donald Trump.
Finally, the rupee ended at 86.44 (Provisional), depreciated by 9 paise from its previous close of 86.35 on Wednesday. The currency touched a high and low of 86.52 and 86.38 respectively.
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