Today, the Rupee depreciated by 11 paise against the US Dollar to 70.60 in opening trade, amid rising demand for the greenback from banks and importers.
Forex dealers claims that strengthening of the American currency in the overseas market has weighed on the domestic currency.
However, inflows of fresh foreign fund, easing crude prices, and positive opening in domestic equities supported the Indian currency.
Rupee opened weak at the interbank forex market at 70.60. However, it pared the initial loss and was last found trading at 70.55 against US Dollar.
On Tuesday, Rupee had strengthened by 43 paise to close at 70.49 against Dollar.
Foreign investors have put in Rs. 751.92 crore in the capital markets on a net basis yesterday, reports provisional exchange data.
Brent crude futures the crude oil’s global benchmark, eased 0.76 percent to $65.36 per barrel.