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Rupee settles 4 paise higher at 73.48 against US dollar, Auto News, ET Auto

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On a weekly basis, the rupee gained 2 paise against the American currency.

Mumbai: The rupee closed 4 paise higher at 73.48 against the US dollar on Friday, tracking a broad weakness in the American currency overseas.

At the interbank forex market, the local unit opened flat at 73.49 against the greenback. During the session, the domestic unit witnessed an intra-day high of 73.42 and a low of 73.55.

On a weekly basis, the rupee gained 2 paise against the American currency.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.12 per cent to 92.82.

“The Indian rupee ended flat against the US dollar this week, as persistent dollar demand from importers offset the impact of strong local equities,” said Sriram Iyer, Senior Research Analyst at Reliance Securities.

“Throughout the week, the markets witnessed dollar buying by oil companies and importers, but at the same time, we also witnessed corporate…

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