Rupee settled lower against dollar on Thursday amid a firm American currency and elevated crude oil prices. Besides, foreign fund outflows weighted down on the sentiments. Investors overlooked reports where Finance Ministry in its annual status report stated India’s external debt declined to 18.9 per cent of GDP at the end of March 2023 from 20 per cent last year. Besides, Chairman, CII national committee on EXIM, Sanjay Budhia, stated that negotiating trade pacts with certain G20 countries and diversifying exports to regions like Brazil and Mexico could help India boost outbound shipments and manufacturing in the years to come. On the global front, a buoyant dollar pushed the yen to a 10-month low on Thursday and kept the euro and sterling pinned near three-month lows, as investors placed their faith in a still-resilient U.S. economy even amid a dour global growth outlook.

Finally, the rupee ended at 83.23 (Provisional), weaker by 10 paisa from its previous close of 83.13 on Wednesday. The currency touched a high and low of 83.23 and 83.12 respectively.