Rupee ends lower at 73.87 per dollar

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Indian rupee ended lower by 16 paise at 73.87, amid selling seen in the domestic equity market.

It opened flat at 73.70 per dollar against Tuesday's close of 73.71 and trade in the range of 73.64-73.93.

At 14:09 IST, the Sensex was down 669.09 points or 1.65% at 39853.01, and the Nifty was down 180.60 points or 1.52% at 11708.80.

Oil prices slid more than 1 percent on Wednesday, paring the previous day’s gains, as a jump in U.S. crude inventories and surging COVID-19 cases raised fears of an oversupply of oil and weak fuel demand.

The euro fell against the dollar on Wednesday after a media report that France’s government is leaning toward reinstating a national lockdown to curb a resurgence in coronavirus infections.