Despite a lacklustre trend in the domestic equity market, the rupee pared initial losses to trade 9 paise higher at 74.37 provisionally against the US dollar on Tuesday, November 16.

The local currency began at 74.49 against the greenback on the interbank forex market and eventually finished at 74.37, up 9 paise from its previous close of 74.46. During the day, the local currency fluctuated between 74.28 and 74.53.

Meanwhile, the BSE Sensex down 396.34 points, or 0.65 percent, to 60,322.37, while the broader NSE Nifty fell 110.25 points, or 0.61 percent, to 17,999.20 on the local equity market.

The global oil benchmark, Brent crude futures, climbed 0.69 percent to USD 82.62 per barrel. Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.12 percent at 95.52.  According to exchange data, foreign institutional investors were net purchasers in the capital market on Monday, purchasing shares worth Rs 424.74 crore.

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