The rupee moves 7 paise lower to 73.53 against the US dollar

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The local currency settled at 73.46.

The rupee depreciated 7 points to close at 73.53 against the US dollar on Friday, following muted domestic stocks.

Local unit opened at 73.50 on the interbank forex market, and stabilized for the day at 73.53 against the US dollar, down 7 peas on its last close.

During the session, the domestic unit saw an intraday high of 73.40 and a low of 73.61 against the greenback.

The local currency stood at 73.46 against the US currency on Thursday.

Meanwhile, the dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.13% to 93.21.

On the domestic stock market front, the benchmark of 30 BSE Sensex stocks was trading 9.66 points higher at 38,830.66 and the larger NSE Nifty was trading 0.35 points higher at 11 449.60.

Foreign institutional investors were net buyers in the capital market as they bought shares worth Rs 838.37 crore on a net basis on Thursday, according to provisional exchange data.

Futures contracts on Brent, the world’s benchmark for oil, fell 0.15% to $ 40.00 per barrel.

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