Rupee down 6 paise to 74.94 against $ as Covid cases surge

Mumbai: THE rupee weakened further by 6 paise to close at 74.94 (provisional) against the US dollar on Thursday as a persistent rise in Covid-19 cases and enhanced restrictions imposed by a number of states weighed on investor sentiment.

At the interbank forex market, the local unit opened at 75.25 against the greenback and traded in the range of 74.82 to 75.26 during the day.

The rupee finally ended at 74.94 against the American currency, registering a fall of 6 paise over its previous close. On Tuesday, the rupee had settled at 74.88 against the American currency.

Forex and equity markets were closed on Wednesday on account of 'Ram Navami'.