INR stays largely muted amid persistent foreign fund outflows

The Indian rupee depreciated 2 paise to close at 87.21 (provisional) against US dollar as a muted trend in domestic markets and persistent foreign fund outflows weighed on investor sentiments. Latest tariff announcements from the US have sent shockwaves through global markets, strengthening the dollar. The dollar index witnessed a mild recovery on Thursday but still remains near 2025 lows amid uncertainty surrounding Trump tariff risks. President Trump confirms 25% tariffs on Canada, Mexico, and the EU but delays their implementation until April. Moreover, month-end dollar demand also boosted the American currency. Meanwhile, The benchmark 30-share BSE Sensex fluctuated in a narrow range before ending the session up 10.31 points at 74,612.43. The broader NSE Nifty index closed at 22,545.05, down 2.50 points from its previous close. At the interbank foreign exchange, the rupee opened at 87.26 and touched the high of 87.12 against the greenback during intraday. It also touched the low of 87.41 before ending the session at 87.21 (provisional) against the dollar, registering a loss of 2 paise from its previous close.

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