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Rupee depreciates against US dollar amid negative trend in domestic equities
Feb-28-2025

Indian rupee depreciated against the US dollar on Friday as the strength of the American currency and a negative trend in domestic equities dented investor sentiments. Traders overlooked the International Monetary Fund’s (IMF) report showing that India’s economic growth remained robust, with Gross domestic product (GDP) growth of 6 percent Y-o-Y in the first half of 2024/25. Besides, National Council of Applied Economic Research (NCAER) in its the monthly economic review has said that moderation in inflation to five-month low of 4.3 per cent in January has provided RBI more space to cut interest rate in policy meet. On the global front, ringgit closed lower against US dollar on Friday as concerns over an escalating trade war weighed on sentiment.  

Finally, the rupee ended at 87.41 (Provisional), depreciated by 23 paise from its previous close of 87.18 on Thursday. The currency touched a high and low of 87.53 and 87.27 respectively.

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