Rupee settles 4 paise lower at 74.84 against US dollar

The rupee fell four paise to close at 74.84 (provisional) against the US dollar on Thursday tracking weak domestic equities and stable American currency.

At the interbank forex market, the rupee opened at 74.84 and during the session fluctuated between an intra-day high of 74.80 and a low of 74.88 against the US dollar.

The domestic unit finally closed at 74.84 against the greenback, down four paise over its previous close 74.80.

Forex traders said the rupee was trading on a muted note after the US Federal Reserve reiterated its dovish stance and held interest rates steady. Further, weak domestic equities weighed on investments sentiments.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.13 per cent to 93.57.