The rupee on Thursday opened 19 paise down at 73.34 against dollar on account of buying of American currency by banks and importers.

The local currency strengthened by 41 paise to close at more than three-week high of 73.16 against the US currency on Wednesday due to sharp fall in global crude oil prices.

On the domestic front, crude is the only saving grace for the rupee as the FIIs continue to pull out funds from the equity and debt segment. In this month, FIIs have pulled out funds worth $4.8 billion keeping gains capped for the currency. Today, USDINR pair is expected to quote in the range of 73.05 and 73.50, according to brokerage firm Motilal Oswal Financial Services.

Dollar rose against its major crosses despite weaker-than-expected economic numbers from the US. Sales of new US single-family homes fell to a near two-year low in September and data for the prior three months was revised lower, the latest indications that rising mortgage rates and higher prices were sapping demand for housing.

“Volatility for the greenback could remain high ahead of the important ECB policy statement that will be released today and the advance GDP number that will be released tomorrow,” Motilal Oswal said in a report.