The rupee settled 3 paise lower at 75.18 (provisional) against the US dollar on Thursday tracking strengthening American currency amid worries over mounting COVID-19 cases.

Forex traders said rupee traded in a narrow range as strong dollar, foreign fund outflows and rising COVID-19 cases dragged the local unit down, while positive domestic equities supported the rupee and restricted the losses.

At the interbank forex market, the rupee opened at 75.23, and finally settled for the day at 75.18 against the US dollar, registering a loss of 3 paise over its previous close.

It had settled at 75.15 against the US dollar on Wednesday.

During the session, it swung between a high of 75.15 and low of 75.29 against the US dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.06 per cent to 96.13.

Global Finance