Indian rupee weakened against the U.S. dollar on Friday as traders took a cautious approach ahead of negotiations between Iran and the US to the end the conflict in West Asia. Besides, high global crude oil prices and persistent foreign capital outflows weighed on rupee. The foreign institutional investors were the net sellers on Thursday’s session, offloading securities worth Rs 1,711.19 crore. Meanwhile, the World Bank has said that India is well prepared to handle the current global energy crisis. It highlighted that India has strong protection measures like high foreign exchange reserves, enough fiscal space, and low inflation, which will help maintain growth even during global challenges. On the global front, the British pound has strengthened against the dollar on Friday, to trade above $1.34, supported by optimism over a potential Russia-Ukraine peace deal.

Finally, the rupee ended at 92.75 (Provisional), weakened by 24 paise from its previous close of 92.51 on Thursday. The currency touched a high and low of 92.76 and 92.41 respectively.