Forex dealers said the weakness at the rupee was mainly because of the strengthening US dollar. Also, rising coronavirus instances in the nation weighed the unit.
The neighborhood unit started weak at 75.77 in the interbank foreign exchange market and then dropped further to 75.81down 18 paise on its final close.
It’d settled at 75.63 from the US dollar on Tuesday.
Forex dealers said market participants were worried that the sharp growth in coronavirus cases might weigh on the market.
In India, the death toll because of Covid-19 climbed to 1,694, and also the number of instances rose to 49,391 from the nation on Wednesday, according to the Health Ministry.
Meanwhile, the amount of instances around the world connected to the disorder has spanned over 36.63 lakh, along with the death toll that has topped 2.57 lakh.
After launching on a weak note, national bourses pared the declines. They were investing in the pleasant land with regular Sensex quoting 307.01 points greater at 31,760.52 and broader Nifty climbing 86.60 points into 9,292.20.
Australian institutional investors remained net sellers at the funds market, since they sold equity stocks worth Rs 1,059.39 crore on Tuesday, based on bilateral exchange information.
Brent crude stocks, the worldwide oil benchmark, dropped 0.36 percent to USD 30.86 percent barrel.