Rupee snaps 3-day rally, falls 13 paise to 73.18/$

Mumbai Snapping its three-day winning run, the rupee on Wednesday declined by 13 paise to close at 73.18 against the US dollar in line fall in Asian currencies ahead of the release of US Fed minutes.

Dollar demand from importers and weak regional risk appetite and losses in the domestic equities also weighed on the local unit. At the interbank foreign exchange market, the domestic currency opened at 73.02 against the American currency, but pared the gains to close at 73.18, registering a decline of 13 paise over its previous close. During the session, the local unit hit an intra-day high of 72.93 and a low of 73.18. On Tuesday, the rupee had closed at 73.05 against the US dollar.