The rupee pared initial gains and settled for the day 17 paise lower at 73.46 (provisional) against the US dollar on Tuesday.

At the interbank forex market, the domestic unit opened at 73.17 tracking positive domestic equities and the weak greenback, but soon pared the gains and finally closed at 73.46, down 17 paise over its previous close of 73.29.

During the session, the local unit witnessed an intra-day high of 73.15 and a low of 73.51 against the American currency. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.02 per cent lower at 93.49.

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