Mumbai: The rupee stayed range-bound and closed 3 paise lower at 83.46 against the US dollar on Thursday amid a strong American currency and rising crude oil prices in global markets.
Foreign exchange traders said positive sentiment in the domestic equity markets and the inflow of foreign capital capped a sharp fall in the domestic currency.
At the interbank foreign exchange, the domestic unit opened strong at 83.41 and touched the intra-day low of 83.49 against the greenback.
The local unit finally settled at 83.46 against the dollar, down 3 paise from its previous close.
The rupee had settled 2 paise higher at 83.43 against the dollar on Tuesday, a day after losing 7 paise on Monday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04 per cent to
105.67.