Mumbai: The rupee pared initial losses to settle 9 paise higher at 74.37 (provisional) against the US dollar Tuesday despite a lacklustre trend in the domestic equity market.
At the interbank forex market, the local unit opened at 74.49 against the greenback and later settled at 74.37, higher by 9 paise over its previous close of 74.46.
The local unit moved in a range of 74.28 to 74.53 in the day trade.
On the domestic equity market front, the BSE Sensex ended 396.34 points or 0.65 per cent lower at 60,322.37, while the broader NSE Nifty declined 110.25 points or 0.61 per cent at 17,999.20.
Brent crude futures, the global oil benchmark, rose 0.69 per cent to USD 82.62 per barrel. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.12 per cent at 95.52.
Foreign institutional investors were net buyers in the capital market Monday as they purchased shares worth Rs 424.74 crore, according to exchange data.
