Rupee falls by 11 paise to 72.83 against US dollar

The Rupee was weighed down by a rebound in the US dollar and muted domestic equities

The rupee ended 11 paise lower at 72.83 (provisional) against the US dollar on Thursday, weighed down by a rebound in the US dollar and muted domestic equities.

At the interbank forex market, the local unit opened at 72.99 against the greenback and witnessed an intra-day high of 72.62 and a low of 72.99.

It finally ended at 72.83 against the American currency, registering a fall of 11 paise over its previous closing.

On Wednesday, the rupee had settled at 72.72 against the American currency.

The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.27 per cent to 91.19.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.34 per cent to USD 63.85 per barrel.

On the domestic equity market front, the BSE Sensex ended 598.57 points or 1.16 per cent lower at 50,846.08, while the broader NSE Nifty declined 164.85 points or 1.08 per cent to 15,080.75.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,088.70 crore on Wednesday, according to exchange data.