Rupee settles 44 paise lower at 73.47 against US dollar

The rupee depreciated 44 paise and closed at 73.47 (provisional) against the US dollar on Thursday tracking muted domestic equities and strengthening American currency.

At the interbank forex market, the rupee opened on a weak note at 73.23, lost further ground during the session and finally settled for the day at 73.47 against the greenback, registering a fall of 44 paise over its last close.

The rupee had closed at 73.03 against the US dollar on Wednesday.

During the session, the domestic unit witnessed an intra-day high of 73.23 and a low of 73.48 against the American currency.

Meanwhile, the dollar index, which gauges the greenbackโ€™s strength against a basket of six currencies, rose 0.04% to 92.88.

Forex traders said strong dollar and muted domestic equities weighed on investor sentiment.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 60.61 points lower at 39,025.42 and broader NSE Nifty gained 12.85 points to 11,547.85.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 990.57 crore on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 1.06% to USD 43.96 per barrel.

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