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Rupee weakens against dollar on Thursday

02 Jul 2026 Evaluate

Indian rupee weakened against the U.S. dollar on Thursday as foreign institutional investors (FIIs) continued to pull out capital from Indian markets. FIIs were the net sellers on Wednesday’s session, offloading securities worth Rs 1,140.50 crore. Further, traders overlooked India and Japan unveiling a raft of initiatives, including an economic partnership framework and a defence pact to co-develop military hardware following talks between Prime Minister Narendra Modi and his Japanese counterpart Sanae Takaichi. The major outcomes from the meeting included a declaration on economic security, a joint statement for cooperation in the field of artificial intelligence and a document to bolster engagement in the energy supply chain. On the global front, the British pound has strengthened against the U.S. dollar on Thursday amid signs of progress in indirect US-Iran talks.

Finally, the rupee ended at 95.38 (Provisional), weakened by 22 paise from its previous close of 95.16 on Wednesday. The currency touched a high and low of 95.42 and 94.90 respectively.

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