Mumbai (PTI): The rupee snapped its four-session winning run to close 8 paise lower at 73.08 against the US dollar on Wednesday as muted domestic equities and a strengthening greenback overseas weighed on the market sentiment.
At the interbank forex market, the local unit opened at 73.05 against the American currency and witnessed an intra-day high of 72.92 and a low of 73.50.
It finally ended at 73.08, registering a fall of 8 paise over its previous closing. On Tuesday, the rupee had settled at 73.00 against the American currency.
“Rupee pulled back from two-and-a-half-month high on back of short covering along with weaker Asian currencies. Rebound in dollar index also weighed on rupee along with dollar buying around 73 odd levels,” said Dilip Parmar, Research Analyst, HDFC Securities.