Rupee falls by 11 paise to 72.83 against US dollar

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Mumbai: The rupee ended 11 paise lower at 72.83 (provisional) against the US dollar on Thursday, weighed down by a rebound in the US dollar and muted domestic equities.

At the interbank forex market, the local unit opened at 72.99 against the greenback and witnessed an intra-day high of 72.62 and a low of 72.99.

It finally ended at 72.83 against the American currency, registering a fall of 11 paise over its previous closing. On March 3, the rupee had settled at 72.72 against the American currency. The dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.27% to 91.19.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.34% to $63.85 per barrel.

On the domestic equity market front, the BSE Sensex ended 598.57 points or 1.16% lower at 50,846.08, while the broader NSE Nifty declined 164.85 points or 1.08% to 15,080.75.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,088.70 crore on Wednesday, according to exchange data.