<p>The rupee depreciated 8 paise to settle at 74.27 (provisional) against the US dollar on Thursday, tracking muted domestic equities and strong American currency.</p>.<p>At the interbank forex market, the domestic unit opened at 74.28 against the US dollar and touched an intra-day high of 74.22 and a low of 74.33. It finally closed at 74.27 against the greenback, registering a fall of 8 paise over its previous close.</p>.<p>On Wednesday, the rupee had settled at 74.19 against the US dollar.</p>.<p>Forex traders said, the rupee is trading in a narrow range as rising Covid-19 cases in the US and Europe offset positive sentiments surrounding the progress on the vaccine front.</p>.<p>American pharmaceutical giant Pfizer and its German partner BioNTech said they have concluded phase 3 study of their mRNA-based Covid-19 vaccine candidate BNT162b2, meeting all primary efficacy endpoints.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.33 per cent to 92.62.</p>.<p>On the domestic equity market front, the 30-share BSE benchmark Sensex closed 580.09 points lower at 43,599.96, while the broader NSE Nifty fell 166.55 points to 12,771.70.</p>.<p>Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 3,071.93 crore on a net basis on Wednesday, according to provisional exchange data.</p>.<p>Brent crude futures, the global oil benchmark, fell 0.70 per cent to USD 44.03 per barrel. </p>
<p>The rupee depreciated 8 paise to settle at 74.27 (provisional) against the US dollar on Thursday, tracking muted domestic equities and strong American currency.</p>.<p>At the interbank forex market, the domestic unit opened at 74.28 against the US dollar and touched an intra-day high of 74.22 and a low of 74.33. It finally closed at 74.27 against the greenback, registering a fall of 8 paise over its previous close.</p>.<p>On Wednesday, the rupee had settled at 74.19 against the US dollar.</p>.<p>Forex traders said, the rupee is trading in a narrow range as rising Covid-19 cases in the US and Europe offset positive sentiments surrounding the progress on the vaccine front.</p>.<p>American pharmaceutical giant Pfizer and its German partner BioNTech said they have concluded phase 3 study of their mRNA-based Covid-19 vaccine candidate BNT162b2, meeting all primary efficacy endpoints.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.33 per cent to 92.62.</p>.<p>On the domestic equity market front, the 30-share BSE benchmark Sensex closed 580.09 points lower at 43,599.96, while the broader NSE Nifty fell 166.55 points to 12,771.70.</p>.<p>Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 3,071.93 crore on a net basis on Wednesday, according to provisional exchange data.</p>.<p>Brent crude futures, the global oil benchmark, fell 0.70 per cent to USD 44.03 per barrel. </p>