New Delhi, August 14 (HS) : The Indian rupee ended Thursday’s trading session on a weaker note, slipping 9 paise to close provisionally at ₹87.55 against the U.S. dollar. The slide was attributed to a surge in crude oil prices, increased dollar demand from importers, and sustained selling by foreign investors.

On Wednesday, the domestic currency had settled at ₹87.46 per dollar.

The rupee began the day on a mildly weaker footing, opening at ₹87.47 at the Interbank Foreign Exchange — down 1 paise from its previous close. Shortly after trading commenced, a rise in dollar inflows briefly strengthened the local currency by 8 paise, pushing it to an intraday high of ₹87.38.

However, the respite was short-lived. Demand for the U.S. currency surged as importers rushed to meet payment obligations, while foreign portfolio investors accelerated their sell-off in the equity markets. This combination exerted fresh downward pressure on the rupee, which slumped by as much as 30 paise from its session high to touch the day’s low of ₹87.68.

Market sentiment improved marginally post-noon, enabling the rupee to recover 13 paise from its intraday low before eventually settling with a net loss of 9 paise at ₹87.55 per dollar.

Foreign exchange experts stated that persistent equity outflows by overseas investors have already weighed heavily on the rupee. The recent spike in global crude oil prices has further dampened market sentiment. Meanwhile, import-related dollar demand has compounded the pressure, bolstering the greenback’s gains.

Currency trader Anshuman Chaudhary noted that global investors are in a wait-and-watch mode ahead of the August 15 talks between the United States and Russia — the outcome of which could impact not only India but global markets at large, including currencies.

In cross-currency trade, the rupee weakened 17 paise against the British pound to close at ₹118.90, while it gained 28 paise against the euro to finish at ₹102.30.

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Hindusthan Samachar / Jun Sarkar