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Rupee depreciates on Wednesday amid stronger American currency
Feb-12-2025

Indian rupee depreciated on Wednesday amid stronger American currency and lackluster sentiment in domestic equity markets. Traders were concerned amid sustained outflow of foreign funds. Foreign institutional investors (FIIs) offloaded equities worth Rs 4,486.41 crore in the capital markets on a net basis on Tuesday, according to exchange data. Investors overlooked Central Board of Direct Taxes' (CBDT) latest data showing that net direct tax collection grew 14.69 per cent to over Rs 17.78 lakh crore so far this fiscal (April 1, 2024, and February 10, 2025). Gross direct tax mop up till February 10 grew 19.06 per cent to more than Rs 21.88 lakh crore. On the global front, ringgit ended flat against the US dollar on cautious sentiment regarding the current economic outlook.

Finally, the rupee ended at 86.93 (Provisional), depreciated by 14 paise from its previous close of 86.79 on Tuesday. The currency touched a high and low of 86.95 and 86.36 respectively.

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