The Indian rupee declined 5 paise to close at 74.88 (provisional) against the US dollar on Thursday, weighed down by the strength of the American currency and muted domestic equities. Elevated crude oil prices also dragged down the local unit. At the interbank foreign exchange, the rupee opened at 74.84 against the American dollar, and later witnessed an intra-day high of 74.75 and a low of 74.92 against the greenback. The local unit finally ended the day at 74.88, down 5 paise from the previous close of 74.83. The dollar index, which gauges the greenbacks strength against a basket of six currencies, was trading 0.22 per cent higher at 96.14.
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