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The rupee pared its initial gains and settled six paise lower at 74.82 against the US dollar on Wednesday, even as the domestic equity market traded in the positive territory.
At the interbank forex market, the domestic unit opened at 74.71 against the US dollar, but lost ground and finally settled at 74.82 against the US dollar, down six paise over its previous close of 74.76.
During the session, the local unit witnessed an intra-day high of 74.67 and a low of 74.93 against the greenback.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.04 per cent to 92.23.
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