Indian rupee depreciated against the U.S. dollar on Thursday amid month-end dollar demand from importers. Traders overlooked the report that Department of Economic Affairs (DEA), Ministry of Finance said that Indian economy is estimated to achieve a growth of 6.5 per cent in FY25 despite considerable external headwinds. Also, Director General of Foreign Trade Santosh Kumar Sarangi said that India's exports are expected to grow despite global trade uncertainties. On the global front, British pound strengthened against other major currencies in the European session on Thursday, as investors neglect new tariffs imposed by U.S. President Trump on auto imports.
Finally, the rupee ended at 85.76 (Provisional), depreciated by 6 paise from its previous close of 85.70 on Wednesday. The currency touched a high and low of 85.93 and 85.73 respectively.
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