New Delhi: The rupee surrendered all the gains made during the day and settled 13 paise lower at 73.61 against the US dollar on Wednesday amid steady capital outflows and strengthening of the American currency. The US dollar strengthened against its rivals ahead of the Federal Reserve’s release of minutes from the September meeting.
The Indian rupee also came under pressure following a heavy selling in domestic equities. At the Interbank Foreign Exchange, the rupee opened on a higher note at 73.43 and gained further ground to hit an intra-day high of 73.37 against the US dollar. But eventually, the Indian unit erased all the gains and finally settled the day at 73.61, down by 13 paise. The domestic currency climbed 35 paise to end at nearly two-week high of 73.48 per dollar on Tuesday.
