Rupee settles 23 paise lower at 73.84 against US dollar



The rupee depreciated 23 paise and settled at 73.84 (provisional) against the US dollar on Monday as muted domestic equities and strong American currency weighed on investor sentiment.

The local unit opened at 73.77 at the interbank forex market, then lost further ground and finally settled at 73.84 against the greenback, registering a decline of 23 paise over its previous closing price of 73.61.

During the session, the domestic unit witnessed an intra-day high of 73.69 and a low of 73.88 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.25 per cent to 93.00.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 668.48 points lower at 40,017.02 and the broader NSE Nifty fell 198.55 points to 11,731.80.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 906.93 crore on a net basis on Friday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 3.14 per cent to USD 40.46 per barrel.