RUPEE SLIPS 4 PAISE TO SETTLE 73.42 AGAINST US DOLLAR

Indian rupee depreciated on a strong dollar. Rupee opened flat at 72.37 against US dollar, witnessed an intra-day high of 72.26 and a low of 72.44. The rupee gave up all its intra-day gains to close at 72.42, registering a decline of 4 paise on Tuesday in line with weakness in other peers against the American currency. However, easing crude oil prices and positive equities lent some support to the local unit and restricted the fall.

On the domestic equity market front, the BSE Sensex surged 280.15 points or 0.56 percent to close at 50,051.44, while the broader NSE Nifty ended higher by 78.35 points or 0.53 percent at 14,814.75.

EUR/ USD was down 0.50% to 1.1882 while USD/JPY was down by 0.24% to 108.49.GBP/USD down by 0.56% to 1.37786.