Rupee falls by 9 paise to 72.89 against US dollar

MUMBAI:  The rupee depreciated by 9 paise to end at 72.89 against the US dollar on Tuesday, tracking a strong dollar overseas and subdued sentiment in the domestic equities. However, a fall in crude oil prices restricted the rupee’s fall, forex traders said.

At the interbank forex market, the local unit opened slightly up at 72.78 against the greenback and witnessed an intra-day high of 72.76 and a low of 72.90.

It finally ended at 72.89 against the American currency, a decline of 9 paise over its previous close. On Monday, the rupee had settled at 72.80 against the US dollar. On the domestic equity market front, the BSE Sensex ended 52.94 points or 0.10 per cent lower at 52,275.57, while the broader NSE Nifty slipped 11.55 points or 0.07 per cent to 15,740.10. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.20 per cent to 90.12. Brent crude futures, the global oil benchmark, fell 0.66 per cent to USD 71.02 per barrel.

Foreign institutional investors were net sellers in the capital market on Monday as they sold shares worth Rs 186.46 crore, as per exchange data. India reported less than one lakh new coronavirus infections after a gap of 63 days, while the daily positivity rate dropped to 4.62 per cent, according to the Union Health Ministry data updated on Tuesday.