Following weakness in domestic markets, the Indian rupee ended a nine-day winning streak by settling 3 paise lower at 74.73 against the US dollar on Wednesday. The rupee began the day at 74.69 against the dollar on the interbank foreign exchange market. It reached a high of 74.68 and a low of 74.86 during the day.

The local currency gained 30 paise to settle at a one-month high of 74.70 against the greenback on Tuesday, marking its ninth straight session of gains. Due to the year-end holidays, currency traders expect the rupee to move in a narrow range this week.

In the Indian equity front, the BSE Sensex fell 90.99 points, or 0.16 percent, to 57,806.49, while the broader NSE Nifty fell 19.65 points, or 0.11 percent, to 17,213.60.

Meanwhile, the dollar index rose 0.18 percent to 96.37, which gauges the strength of the greenback against a basket of six currencies. The global oil benchmark, Brent crude futures, climbed 0.11 percent to USD79.03 per barrel. According to stock exchange data, foreign institutional investors became net buyers in the capital market on Tuesday, purchasing shares worth 207.31 crore.

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