Rupee falls 32 paise against the US dollar to close at 74.37

The Indian rupee fell 32 paise to end the day at 74.37 against the US dollar on Wednesday, weighed down by a flat trend in domestic equities and the strength of the US dollar in the international market.

In the day trade, the local currency opened at 74.11 against the US dollar, hitting a high of 74.06 and a low of 74.42 on the interbank foreign exchange market. The local currency ended the day at 74.37 per dollar, down 32 paise from the previous close. The rupee was trading at 74.05 against the dollar on Tuesday. The dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.19 percent at 94.13. According to exchange data, foreign institutional investors were net sellers in the capital market on Tuesday, offloading shares worth Rs 2,445.25 crore.

Meanwhile, the BSE Sensex fell 80.63 points, or 0.13 percent, to 60,352.82, while the broader NSE Nifty fell 27.05 points, or 0.15 percent, to 18,017.20 on the domestic equity market.

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