The Indian rupee depreciated by 22 paise to settle at 86.02 against the US dollar due to foreign fund outflows and lack of progress in the India-US trade deal.
The rupee opened at 85.96, traded between 85.92 and 86.05, before closing at 86.02, down from its previous close of 85.80.
The dollar index rose slightly to 97.82, impacting the rupee's performance, while Brent crude oil prices surged to $71.46 per barrel.
Despite efforts by the RBI to support the rupee and FPIs selling equities, the currency remained stable. The Indian commerce ministry team is in Washington for trade talks.