Indian rupee has weakened against the US dollar on Thursday amid lingering West Asia tensions as talks between Washington and Tehran to end the war hit an impasse. Further, capital outflows by foreign institutional investors (FIIs) weighed on market risk sentiment. FIIs were the net sellers on Wednesday’s session, offloading securities worth Rs 1,002.50 crore. Besides, traders overlooked signing of Terms of Reference (ToR) between India and the Southern African Customs Union (SACU) for negotiations towards a Preferential Trade Agreement (PTA). ToR reflects the shared commitment of India and SACU to advancing mutually beneficial trade relations and lays the foundation for negotiations towards a balanced, mutually beneficial and development-oriented PTA. On the global front, the Japanese yen has shown mild strength against the US dollar on Thursday as market participants remained cautious about intervention from authorities amid persistent weakness.
Finally, the rupee ended at 95.45 (Provisional), weakened by 12 paise from its previous close of 95.33 on Wednesday. The currency touched a high and low of 95.48 and 95.35 respectively.
