Rupee Vs Dollar: Rs closes 6 paise lower at 74.94 against USD as COVID cases spike

MUMBAI: The Indian rupee weakened further by 6 paise to  provisionally close at 74.94 against the US dollar on Thursday as a persistent rise in Covid-19 cases and enhanced restrictions imposed by a number of states weighed on investor sentiment.

At the interbank forex market, the local unit opened at 75.25 against the greenback and traded in the range of 74.82 to 75.26 during the day. The domestic currency finally ended at 74.94 against the American dollar, registering a fall of 6 paise over its previous close. On Tuesday, the rupee had settled at 74.88 against the American currency.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 percent to 91.09.  Meanwhile, Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,082.33 crore on Tuesday, as per provisional data.

Brent crude futures, the global oil benchmark, were trading 0.54 percent down at USD 64.97 per barrel.

On the Indian equity market front, the BSE Sensex ended 374.87 points or 0.79 percent higher at 48,080.67, while the broader NSE Nifty advanced 109.75 points or 0.77 per cent to 14,406.15.

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