Rupee slumps 28 paise against US dollar

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Mumbai, Nov 12 (PTI) The rupee depreciated 28 paise to close at 74.64 (provisional) against the US dollar on Thursday, as weak domestic equities weighed on investor sentiments.

The local unit opened at 74.44 against the greenback at the interbank forex market and finally settled at 74.64 against the greenback, down 28 paise over its last close.

During the session, the domestic unit witnessed an intra-day high of 74.38 and a low of 74.74 against the American currency.

On Wednesday, the rupee declined by 18 paise to close at 74.36 against the US dollar.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 92.83.

On the domestic equity market front, the 30-share BSE index ended 236.48 points or 0.54 per cent lower at 43,357.19 and the broader NSE Nifty slipped 58.35 points or 0.46 per cent to 12,690.80.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 6,207.19 crore on a net basis on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 0.25 per cent to USD 43.69 per barrel. PTI DRR BAL