Tax paid daily for a flat flat and added 2 paise over to close at 74.17 (temporarily) compared to USD, for the fourth consecutive profit session on Thursday.
Forex traders said the price action continued to decline as investors waited for a Reserve Bank of India (RBI) policy decision on Friday to find more leads.
In the interbank forex market, the rupee opened at 74.15 and hit an intra-day low of 74.28.
It is finally closed at 74.17, which is 2 pairs higher than its last close.
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On Wednesday, the rupee stood at 74.19 against the US dollar.
Brent futures, the world’s oil bank, rose 0.74 percent to USD 70.90 per barrel.
Meanwhile, the dollar index, which measures the greenback strength in the six-currency basket, fell 0.05 percent to 92.22 percent.
Earlier in the domestic financial market, BSE Sensex finished with 123.07 points or 0.23 percent higher at 54,492.84, while the broad NSE Nifty surpassed 35.80 points or 0.22 percent to 16,294.60.
Meanwhile, foreign institutional investors were market buyers on Wednesday as they bought shares worth Rs 2,828.57 crore, as exchange data.
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