Rupee declined by 7 paise to close at 75.03 against the dollar on Wednesday owing to a muted trend among domestic equities and the American dollar gaining strength in the overseas market.
Rupee rose to an intra-day high of 74.90 and fell to an intra-day low of 75.05 against the dollar during trade at the interbank foreign exchange on Wednesday. It eventually settled at 75.03.
Rupee declined by 7 paise to close at 75.03 against the dollar on Wednesday owing to a muted trend among domestic equities and the American dollar gaining strength in the overseas market.
Analysts informed news agency PTI that weakness in Asian currencies and risk-off sentiments weighed on the rupee on Wednesday.
The local currency opened the day at 75.02 against the dollar on Wednesday. It rose to an intra-day high of 74.90 and fell to an intra-day low of 75.05 against the dollar during trade at the interbank foreign exchange on Wednesday. It eventually settled at 75.03. On Tuesday, it had closed at 74.96 against the dollar.
The global oil benchmark, Brent Crude Futures fell by 1.08 per cent to $85.47/barrel.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent up at 93.97.
BSE Sensex ended the day 206.93 points or 0.34 per cent lower at 61,143.33. NSE Nifty closed the day at 18,210.95, which is 57.45 points or 0.31 per cent lower.
(With inputs from PTI)