Mumbai: The rupee inched higher by 3 paise to close at 73.90 (provisional) against the US dollar Thursday, as muted domestic equities and weak macroeconomic data weighed on investor sentiments.
Forex traders said elevated crude oil prices also affected the local unit.
At the interbank forex market, the rupee opened at 73.91 against the greenback and witnessed an intra-day high of 73.84 and a low of 73.97. It finally settled at 73.90, a rise of 3 paise over its previous close.
In the previous session, the rupee had settled almost flat at 73.93 against the US dollar.
On the domestic equity market front, the BSE Sensex ended 85.26 points or 0.14 per cent higher at 61,235.30, while the broader NSE Nifty advanced 45.45 points or 0.25 per cent to 18,257.80.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, fell 0.12 per cent to 94.80.
Brent crude futures, the global oil benchmark, was trading 0.26 per cent higher at USD 84.89 per barrel.
Foreign institutional investors were net sellers in the capital market on Wednesday, as they offloaded shares worth Rs 1,001.57 crore, as per stock exchange data.
On the domestic macroeconomic front, the Index of Industrial Production (IIP) remained muted for the third straight month in November 2021, while retail inflation rose to a six-month high of 5.59 per cent in December.