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Rupee depreciates against US dollar on Friday

16 May 2025 Evaluate

Indian rupee depreciated against the US dollar on Friday due to negative domestic equity markets. Traders were cautious after India's trade deficit expanded sharply to a five-month high of $26.42 billion in April, up from $21.54 billion in March, amid global trade and supply chains being upended by United States' President Donald Trump's tariff hikes on its trading partners. On global front, Japanese yen strengthened against other major currencies in the Asian session on Friday amid risk-off mood, as traders digested the latest settlements on the trade tariff front and remained caution as they awaited more clarity on the developments in trade negotiations with other trade partners.

Finally, the rupee ended at 85.57 (Provisional), depreciated by 03 paise from its previous close of 85.54 on Thursday. The currency touched a high and low of 85.70 and 85.28 respectively.

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