The rupee depreciated 52 paise to close at 87.43 (provisional) against the US dollar on Wednesday, on uncertainty over India-US trade deal after US President Donald Trump hinted at tariff rates of around 20-25 per cent ahead of the deadline of August 1.
Forex traders said month-end dollar demand from importers and sustained foreign fund outflows weighed on the local unit.
At the interbank foreign exchange, the domestic unit opened at 87.10 against the greenback and touched an intra-day low of 87.05 against the greenback.
At the end of Wednesday’s trading session, the local unit settled at 87.43 (provisional), down 52 paise over its previous closing price.
On Tuesday, the rupee declined to an over four-month low and closed 21 paise weaker at 86.91 against the US dollar.
Rupee slumps 52 paise toclose at 87.43 against US dollar
Mumbai, Jul 30 (PTI)