Rupee extends losses for third session, breaches 73-mark against US dollar

The currency fell by 9 paise

Extending losses for the third straight session, the rupee on Thursday fell by 9 paise to end at 73.06 (provisional) against the US dollar even as the domestic equity markets settled with significant gains.

Forex traders said the local unit is trading in a narrow range as investors looked to key US inflation data and European Central Bank meeting later in the day for further cues.

At the interbank foreign exchange market, the rupee opened at 72.96 per dollar as against its previous close of 72.97.

It hovered in the range of 72.94 to 73.12 during the day before ending at 73.06.

The domestic currency has lost 26 paise in the last three trading sessions.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.09 per cent to 90.20.

On the domestic equity market front, the BSE Sensex ended 358.83 points or 0.69 per cent higher at 52,300.47, while the broader NSE Nifty rose 102.40 points or 0.65 per cent to 15,737.75.

Brent crude futures, the global oil benchmark, rose 0.07 per cent to USD 72.27 per barrel.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 846.37 crore, as per exchange data.