The rupee had closed 20 paise lower at 73.31 a dollar on January 7.

The rupee furthered its loss by 7 paise to trade at 73.38 against the U.S. dollar in opening deals on January 8, reeling under pressure from a rebound in American currency against key rivals and rising crude oil prices.

At the interbank foreign exchange market, the Indian unit traded in a small range of 73.35-73.39 in early deals.

The rupee had closed 20 paise lower at 73.31 a dollar on January 7.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03% to 89.85.

Global crude oil benchmark Brent was trading higher by 0.17% at $54.61 per barrel.

On the domestic equity market front, the BSE Sensex surged 362.16 points or 0.75% to 48,455.48 in morning trade, and the broader NSE Nifty climbed 104.50 points or 0.74% to 14,241.85.

Foreign investors bought shares worth ₹382.30 crore on a net basis on January 7, according to exchange data.

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