Indian rupee depreciated against the US dollar on Friday amid a strong dollar and persistent capital outflows. Sentiments were downbeat as credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has forecasted that fiscal 2026 (FY26) will be a year of headwinds for the credit market, led by externalities, length and breath of indebtedness in the retail lending space, volatile banking system liquidity and domestic growth-inflation conundrums. On the global front, ringgit rebounded from yesterday’s loss to close higher against the US dollar on Friday, driven by renewed demand despite the greenback’s positive momentum.
Finally, the rupee ended at 86.04 (Provisional), depreciated by 18 paise from its previous close of 85.86 on Thursday. The currency touched a high and low of 86.04 and 85.85 respectively.