Rupee snaps 3-day losing streak

Mumbai: The rupee snapped its three-day losing streak and closed 10 paise higher at 73.50 (provisional) against the US dollar on Thursday following recovery in the domestic equities.

At the interbank forex market, the local unit opened on a weak note at 73.77 against the greenback. During the session, the domestic unit witnessed an intra-day high of 73.48 and a low of 73.85. It finally ended at 73.50, registering a rise of 10 paise over its previous closing. In the previous session, the rupee had settled at 73.60 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 92.54. Brent crude futures, the global oil benchmark, rose 0.29 per cent to $72.81 per barrel. On the domestic equity market front, the BSE Sensex ended 54.81 points or 0.09 per cent higher at 58,305.07, while the broader NSE Nifty advanced 15.75 points or 0.09 per cent to 17,369.25. Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 802.51 crore, as per exchange data.