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The rupee settled 3 paise lower at 75.18 against the US dollar on Thursday, tracking a strengthening American currency amid worries over mounting Covid-19 cases.
Forex traders said the rupee traded in a narrow range as a strong dollar, foreign fund outflows and rising Covid-19 cases dragged the local unit down. A positive trend in the domestic equity markets capped the losses, they added.
At the interbank forex market, the rupee opened at 75.23 and swung between a high of 75.15 and low of 75.29 against the US dollar. It finally settled at 75.18, registering a loss of 3 paise over its previous close.
The rupee had ended at 75.15 against the US dollar on Wednesday.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.06 per cent to 96.13.
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