Rupee settles 5 paise lower at 73.84 against US dollar
Mumbai: The rupee pared most of its initial losses and settled for the day 5 paise lower at 73.84 against the US dollar on Tuesday, tracking a rebound in domestic equities.
At the interbank forex market, the domestic unit opened at 73.95 against the US dollar and witnessed an intra-day high of 73.82 and a low of 73.95. The local unit finally closed at 73.84 against the American currency, registering a fall of 5 paise over its previous close.
On Monday, the rupee plunged 23 paise to end at a two-week low of 73.79 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.29 per cent higher at 90.30.
"Market sentiments were hurt amid concerns over new virus strain in UK," said Saif Mukadam, Research Analyst, Sharekhan by BNP Paribas.