Indian Rupee falls 23 paise to close below 74-level against USD

The Indian rupee plummeted 23 paise to close at 74.06 against the Greenback on Tuesday amid a lacklustre trend in domestic equities and strengthening of the American dollar in the overseas market. At the interbank foreign exchange market, rupee opened at 73.79 and witnessed an intra-day high of 73.73 and a low of 74.12 against the U.S. dollar in day trade, and  unit finally settled at 74.06 a dollar, down 23 paise over its previous close. On Monday, the rupee had settled at 73.83 against the U.S. dollar.

The dollar index, which gauges the dollar’s strength against a basket of six currencies, was trading 0.26 percent higher at 93.62. Meanwhile, Brent crude futures, the global oil benchmark, advanced 0.89 percent to  USD80.24 per barrel. 

On the Indian share market front, the BSE Sensex ended 410.28 points or 0.68 percent lower at 59,667.60, while the broader NSE Nifty declined 106.50 points or 0.6 percent to 17,748.60.

Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs594.63 crore, as per stock exchange data.


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