Rupee ends 6 paise down at 73.91 against USD, gold declines Rs 317

Mumbai, May 05 (PTI): The rupee snapped its two-day winning streak and closed 6 paise lower at 73.91 (provisional) against the US dollar on Wednesday.
At the interbank foreign exchange market, the domestic unit opened higher at 73.80, but failed to maintain the gains and fell to 74.04 before ending at 73.91, a loss of 6 paise over its previous close.
On Tuesday, the rupee had settled at 73.85 against the American currency. The domestic currency had gained 24 paise in the previous two days. It hovered in a range of 73.80 and 74.04 per dollar during the day.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.02 per cent to 91.30. Gold dipped Rs 317 to Rs 46,382 per 10 grams in the national capital on Wednesday, in line with a decline in the yellow metal’s prices overseas, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 46,699 per 10 grams.
In contrast, silver jumped Rs 2,328 to Rs 70,270 per kilogram from Rs 67,942 in the previous trade. In the international market, gold was trading marginally lower at USD 1,776 per ounce and silver was flat at USD 26.42 per ounce. “Gold prices traded under pressure over stronger dollar and rise in US bond yields,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.

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