Global oil benchmark Brent crude futures fell 1.05% to $84.92 a barrel.
The rupee on Thursday closed just 1 paise higher at 74.87 (provisional) against the US dollar amid a bearish trend in domestic equity markets.
Forex traders said foreign fund outflows, a firming greenback in the international market and firm crude oil prices limited the appreciation bias in the local currency.
In the interbank forex market, the local unit opened at 74.86 against the greenback, and moved in a range of 74.69 to 74.89 during the session.
It finally ended at 74.87, registering an increase of just 1 paise from its previous close.
On Wednesday, the rupee edged up by 47 paise to close at a nearly two-week high of 74.88 against the US currency.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.09% to 93.64.
Global oil benchmark Brent crude futures fell 1.05% to $84.92 a barrel.
Foreign institutional investors were net sellers in the capital markets on Wednesday as they sold shares worth 1,843.09 crore, according to exchange data.
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