Rupee drops 8 paise to close at 73.10 against U.S. dollar

The local unit witnessed an intra-day high of 73.02 and a low of 73.11 against the American currency.

On Friday, the rupee had settled at 73.02 against the U.S. dollar. Representational Image.

The rupee on September 6 declined by 8 paise to close at 73.10 (provisional) against the U.S. currency tracking the strengthening of the greenback in the overseas markets.

At the interbank foreign exchange market, the domestic currency opened flat at 73.02, then lost ground and settled for the day at 73.10, down 8 paise over its previous close.

During the trading session, the local unit witnessed an intra-day high of 73.02 and a low of 73.11 against the American currency.

On Friday, the rupee had settled at 73.02 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.28% higher at 92.29.

Brent crude futures, the global oil benchmark, fell 0.63% to $72.15 per barrel.

On the domestic equity market front, the BSE Sensex ended 166.96 points or 0.29% higher at 58,296.91, while the broader NSE Nifty advanced 54.20 points or 0.31% to 17,377.80.

Meanwhile, foreign institutional investors were net buyers in the capital market on Friday, as they purchased shares worth ₹768.58 crore, as per exchange data.