Rupee pares early gains, settles 5 paise higher at 73.48 against US dollar

Mumbai: The rupee pared some of its early gains and settled 5 paise higher at 73.48 (provisional) against the US dollar on Monday tracking muted domestic equities.
At the interbank forex market, the domestic unit witnessed high volatility. It opened on a strong note at 73.40 against the US dollar, pared some of its gains and finally closed at 73.48 against the American currency, registering a rise of 5 paise over its previous close of 73.53.
During the trading session, the local unit witnessed an intra-day high of 73.26 and a low of 73.70 against the greenback.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.30 per cent lower at 93.05.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 164.47 points lower at 38,690.08, and the broader NSE Nifty fell 46.05 points to 11,418.40.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,175.81 crore on a net basis on Friday, according to exchange data.
Brent crude futures, the global oil benchmark, fell 0.45 per cent to USD 39.65 per barrel.

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