The rupee fell 5 paise to 74.88 (provisional) against the US dollar on Thursday, pressured down by the US currency's resilience and lacklustre domestic equities. The local currency has also been pulled down by rising crude oil costs,  forex traders.

The rupee opened at 74.84 versus the US dollar on the interbank foreign exchange, with an intra-day high of 74.75 and a low of 74.92 against the greenback. The local currency finished the day at 74.88, down 5 paise from its previous closing of 74.83.

The dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.22 percent at 96.14.

The 30-share Sensex closed the day 770.31 points or 1.29 percent lower at 58,788.02, while the wider NSE Nifty finished the day down 219.80 points or 1.24 percent at 17,560.20.

Brent crude futures slid 0.92 percent to USD 88.65 a barrel, the global benchmark.

According to stock exchange data, foreign institutional investors were net sellers in the capital market on Wednesday, offloading shares worth Rs 183.60 crore.

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