Rupee fell 18 paise to close at 74.52 against the dollar on Thursday as the greenback acquired strength in overseas markets and heavy selling in domestic equities weighed on investor sentiment.
The local currency had slumped 32 paise to close at 74.37 against the dollar on Wednesday.
Rupee fell 18 paise to close at 74.52 against the dollar on Thursday as the greenback acquired strength in overseas markets and heavy selling in domestic equities weighed on investor sentiment.
At the interbank foreign exchange market, the local currency opened at 74.44, then lost further ground to quote 74.59 against the American currency. The local currency eventually settled 18 paise below its previous close at 74.52. On Wednesday, it had slumped 32 paise to close at 74.37 against the dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.21 per cent up at 95.05.
Analysts told news agency PTI that in the near term, the rupee may trade with an upward bias within a range of 74.30 and 74.80 against the dollar on spot.
The global oil benchmark, Brent crude futures, rose 0.73 per cent to $83.24/barrel.
BSE Sensex ended the day at 433.13 points or 0.72 per cent lower at 59,919.69. The broader NSE Nifty fell 143.60 or 0.80 per cent to close at 17,873.60 on Thursday.
Foreign institutional investors were net sellers in the capital market on Wednesday, as they offloaded shares worth Rs 469.50 crore, according to exchange data.
(With inputs from PTI)