Indian rupee depreciated against the U.S. dollar on Thursday weighed down by demand for American dollars from importers. Traders took note of report that Reserve Bank of India in its latest data has said that four Indian entities committed foreign direct investments worth nearly $6 million in Azerbaijan and Turkiye, accounting for a small part of the total $6.8 billion overseas investments proposed by Indian companies in April. On the global front, ringgit closed marginally higher against the US dollar, buoyed by mild demand, as traders remained cautious while monitoring ongoing economic developments.
Finally, the rupee ended at 85.54 (Provisional), depreciated by 21 paise from its previous close of 85.33 on Wednesday. The currency touched a high and low of 85.73 and 85.42 respectively.
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