Rupee ends lower at 74.85 per dollar

Indian rupee ended lower at 74.85 per dollar, amid selling seen in the domestic equity market.

It opened slightly lower at 74.84 per dollar against previous close of 74.79 and traded in the range of 74.80-74.87.

At 14:30 IST, the Sensex was down 318.95 points or 0.84% at 37752.18, and the Nifty was down 98.00 points or 0.87% at 11104.90.

Oil prices dipped on Thursday as a surge of coronavirus infections around the globe raised fears a rebound in fuel demand would stutter just as major oil producers are set to raise output in August.

The dollar was mired at a more than two-year low on Thursday as the Federal Reserve repeated a pledge to limit damage from the pandemic as surging new coronavirus cases hamper the economy.