Indian rupee depreciated against the US dollar on Wednesday on weak domestic equity markets and a rise in crude oil prices. Some concern came as exchange data showed Foreign institutional investors (FIIs) offloaded equities worth Rs 1,970.14 crore on a net basis on Tuesday. Besides, U.S. President Donald Trump said he is not considering delaying his July 9 deadline for higher tariffs to resume. Traders overlooked report that India’s gross Goods and Services Tax (GST) collection for the month of June stood at Rs 1.85 lakh crore, marking a 6.2% increase compared to the same month last year. On the global front, ringgit closed lower against the US dollar, as fading hopes of a trade deal ahead of the upcoming US tariff deadline weighed on investor sentiment.
Finally, the rupee ended at 85.67 (Provisional), depreciated by 08 paise from its previous close of 85.59 on Tuesday. The currency touched a high and low of 85.75 and 85.57 respectively.
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