In the previous session, the rupee had closed at 73.64 against the US dollar on Thursday.
The Indian rupee on Friday lost 4 paise to close at 73.68 (provisional) against the US dollar following weak Asian peers against the US currency.
In the interbank forex market, the local currency opened at 73.77. During the day, it touched the day’s high of 73.61 and the low of 73.78.
The rupee eventually settled at 73.68 against the US currency, down 4 paise over its previous close.
In the previous session, the rupee had closed at 73.64 against the US dollar on Thursday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06% higher at 93.14.
“The Indian rupee declined after the dollar rebounded following weakness in Asian peers and a risk-off mood. It appears that markets have taken the Federal Open Market Committee’s (FOMC) decision as hawkish as Treasuries moved higher. Whereas risky assets have seen unwinding for a long time,” it said. Dilip Parmar, Research Analyst, HDFC Securities.
The spot USD/INR is expected to trade between 73.40 to 73.95 at the end of the month following a risk-off tone with dollar demand.
“The data docket remains light today amid the weekend, although a lot of Fed speakers will be on the wire which could bring back volatility in forex markets,” Mr Parmar said.
Global oil benchmark Brent crude futures rose 0.25% to $77.44 a barrel.
On the domestic equity market front, the BSE Sensex closed 163.11 points or 0.27% higher at 60,048.47. Similarly, the broader NSE Nifty rose 30.25 points or 0.17% to end at a record 17,853.20.
Foreign institutional investors were net buyers in the capital markets on Thursday as they bought shares worth Rs 357.93 crore, according to exchange data.
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