The rupee weakened 12 paise to close at 72.55 (provisional) against the US dollar on Wednesday, weighed down by heavy selling in domestic equities and a sharp fall in crude oil prices globally.
Forex dealers said that in addition, the strengthening of the US currency in the foreign exchange market amid the outflow of foreign funds also had an effect.
In the interbank foreign exchange market, the domestic unit opened at 72.51 against the US dollar. During the session, it hovered between a high of 72.51 and a low of 72.69.
The rupee finally closed at 72.55, down by 12 paise from its previous close.
The domestic unit fell to 72.43 on Tuesday against the US currency.
On the domestic stock market front, the 30-share BSE benchmark Sensex was down 871.13 points at 49,180.31, and the broader NSE Nifty was down 265.35 points at 14,549.40.
Brent crude, the global oil benchmark, rose 3.08% to $ 62.66 a barrel.
Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.13% to 92.46.
Foreign institutional investors were net sellers in the capital market on Tuesday, as they sold shares worth ₹ 108.24 crore according to exchange data.
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