The rupee gave up early gains and ended 18 paise lower at 87.25 (provisional) against the US dollar on Thursday, weighed down by a stronger greenback and a rebound in crude oil prices.
According to forex traders, the local unit opened on a firm note, supported by improved risk appetite in global markets amid easing trade tariff concerns and hopes of a truce between Russia and Ukraine.
However, the dollar’s strength in overseas markets, coupled with rising crude oil prices, dampened investor sentiment and capped the rupee’s upside.