Rupee slips 3 paise to close at 74.48 against U.S. dollar

Rupee opened at 74.38 against U.S. dollar and witnessed an intra-day high of 74.31 and a low of 74.49

The rupee slipped three paise to settle at 74.48 (provisional) against the U.S. dollar on Monday amid a muted trend in the domestic equity market.

However, lower crude prices in the international market restricted the rupee’s fall, forex dealers said.

At the interbank forex market, the local unit opened at 74.38 against the greenback and witnessed an intra-day high of 74.31 and a low of 74.49.

It finally ended at 74.48 against the American currency, registering a fall of just 3 paise over its previous close.

On Friday, the rupee had finished at 74.45 against the American currency.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, declined 0.06 to 95.06.

On the domestic equity market front, the BSE Sensex ended 32.02 points or 0.05% higher at 60,718.71, while the broader NSE Nifty inched 6.70 points or 0.04% higher at 18,109.45.

Brent crude futures, the global oil benchmark, fell 1.30% to $81.10 per barrel.

Foreign institutional investors were net buyers in the capital market, as they purchased shares worth ₹511.10 crore on Friday, according to exchange data.

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