Rupee snaps 3-day losing streak, settles 10 paise higher at 73.50 against USD

The rupee snapped its three-day losing streak and closed 10 paise higher at 73.50 (provisional) against the U.S. dollar on Thursday following recovery in the domestic equities.

At the interbank forex market, the local unit opened on a weak note at 73.77 against the greenback. During the session, the domestic unit witnessed an intra-day high of 73.48 and a low of 73.85.

It finally ended at 73.50, registering a rise of 10 paise over its previous closing. In the previous session, the rupee had settled at 73.60 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 % to 92.54.

Brent crude futures, the global oil benchmark, rose 0.29 % to $ 72.81 per barrel.

On the domestic equity market front, the BSE Sensex ended 54.81 points or 0.09 % higher at 58,305.07, while the broader NSE Nifty advanced 15.75 points or 0.09 % to 17,369.25.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth ₹ 802.51 crore, as per exchange data.