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Rupee depreciates against dollar amid continuous foreign capital outflow
Jan-30-2025

Indian rupee depreciated against the U.S. dollar on Thursday amid the strengthening American currency and continuous outflow of foreign funds. Traders took note of Moody's Analytics’ statement that India needs to change its fiscal and monetary policy to achieve a 6.4 per cent GDP growth in 2025 amid a weak rupee, declining foreign investment and volatile inflation. On the global front, yen made broad gains on Thursday as Japan looks on track to keep raising interest rates as others cut, with the European Central Bank seen certain to deliver just the latest in a string of easing today.

Finally, the rupee ended at 86.62 (Provisional), depreciated by 6 paise from its previous close of 86.56 on Wednesday. The currency touched a high and low of 86.65 and 86.56 respectively.

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