The Indian rupee ended Friday's session on a weaker note, slipping eight paise to settle at 86.16 against the US dollar. This marks a reversal from Thursday's close of 86.08, as the currency gave up early gains amid cautious sentiment surrounding ongoing trade negotiations.
In morning trade, the rupee had briefly appreciated to 86.06, supported by a softer dollar and a marginal decline in global crude oil prices. It opened at 85.99 at the interbank foreign exchange market, reflecting initial optimism.
The currency also came under pressure as FIIs offloaded equities worth Rs 3,694.31 crore on Thursday.
Separately, the Ministry of External Affairs confirmed that India and the US are actively working to resolve outstanding issues in a proposed bilateral trade agreement. The update followed comments from US President Donald Trump, who said the two nations were “very close” to finalising a deal. While the news offered some support, traders seemed to have remained cautious amid broader global uncertainties.
The rupee's movement continues to be influenced by external factors, including dollar strength, oil prices, and geopolitical developments.
The Bloomberg Dollar Spot Index slipped 0.2% on the day, reflecting a mild pullback in the greenback. The euro strengthened 0.4% to trade at $1.1641, while the British pound also edged higher by 0.2% to $1.3440. Meanwhile, the Japanese yen and the offshore yuan remained largely steady, trading at 148.55 and 7.1804 per dollar, respectively.
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