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Rupee settles 9 paise lower at 73.66 against US dollar

The rupee snapped its two-day winning streak to close 9 paise lower at 73.66 (provisional) against the US dollar on Thursday tracking muted domestic equities and a rebound in the American currency.

Indias forex reserves skyrocket $889 million to lifetime high of $621.464 billion
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India's forex reserves skyrocket $889 million to lifetime high of $621.464 billion 

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Mumbai: The rupee snapped its two-day winning streak to close 9 paise lower at 73.66 (provisional) against the US dollar on Thursday tracking muted domestic equities and a rebound in the American currency.

At the interbank forex market, the domestic unit opened at 73.68 against the US dollar and witnessed an intra-day high of 73.62 and a low of 73.77. The local unit finally closed at 73.66 against the American currency, registering a fall of 9 paise over its previous close.

On Wednesday, the rupee strengthened by another 3 paise to mark its seven-week high of 73.57 against the US dollar. Traders said the local unit was trading in a narrow range as a rebound of the US dollar, Brexit deal impasse and RBI's presence in the market weighed on investor sentiments on one hand, while sustained foreign fund inflows supported the rupee.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent down at 91.00. (PTI)

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