Following a muted trend in domestic equities, the rupee gave up some of its early gains and fell 7 paise to end the day at 82.02 against the US dollar.
The rupee depreciated 7 paise from its previous close of 81.95 to 82.02 at the interbank foreign exchange market from an opening price of 81.93 against the dollar.
During the session, the domestic unit witnessed an intra-day high of 81.77 and a low of 82.02 against the American dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.22 per cent lower at 105.42.
Benchmark Brent crude futures for global oil decreased 0.1% to USD 82.65 per barrel.
The broad NSE Nifty fell 164.80 points or 0.93 percent to 17,589.60, while the 30-share BSE Sensex finished 541.81 points or 0.90 percent lower at 59,806.28.
According to exchange data, Foreign Institutional Investors (FIIs) were net purchasers in the capital market on Wednesday, buying shares worth Rs 3,671.56 crore.
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