Rupee settles 33 paise higher at 73.14 against US dollar

At the interbank forex market, the domestic unit opened on a strong note at 73.38 against the US dollar, then gained further ground and closed at 73.14 against the American currency, registering a gain of 33 paise over its previous close.

During the trading session the local unit witnessed high volatility and touched an intra-day high of 73.01 and a low of 73.47 against the greenback.

On Thursday, the rupee slumped 44 paise to close at 73.47 against the US dollar as rise in demand for the American currency from oil importers weighed on currency market sentiment.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent higher at 92.77.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 429.77 points lower at 38,561.17, and the broader NSE Nifty fell 127.65 points to 11,399.80.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 7.72 crore on Thursday, according to exchange data.

Brent crude futures, the global oil benchmark, rose 0.52 per cent to USD 44.30 per barrel.