Indian rupee depreciated against the US dollar on Friday tracking a negative trend in domestic equities and foreign fund outflows. Foreign institutional investors offloaded equities worth Rs 1,721.26 crore on Wednesday, according to exchange data. Traders overlooked report that GTRI said India's goods and services exports are likely to grow by 3 per cent to $850 billion in 2025-26. In 2024-25, the overall exports touched $825 billion ($438 billion in merchandise and $387 billion in services). On the global front, Japanese yen weakened against other major currencies in the Asian session on Friday, after data showed that the core inflation in Japan's capital weakened more-than-expected at the end of the year but it remained firmly above the central bank's 2 percent target.
Finally, the rupee ended at 89.90 (Provisional), depreciated by 19 paise from its previous close of 89.71 on Wednesday. The currency touched a high and low of 89.94 and 89.74 respectively.
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