At 65.66, the rupee marked the weakest closing level on Wednesday since September 27, 2017.
The rupee (INR) settled little changed at 65.66 against the US dollar (USD) on Wednesday.
With that marginal fall, the rupee extended its downward movement against the dollar to a third straight session.
At 65.66, the rupee marked the weakest closing level on Wednesday since September 27, 2017.
On that day, the rupee had closed at 65.71 after dropping as much as 65.75 against the US dollar.
The rupee has shed a cumulative 46 paise against the US dollar in three consecutive trading sessions.1.
The rupee touched an intraday low of 65.78 against the US dollar during Wednesday's session.2.
The rupee had last touched 65.78 against the US currency on September 28, 2017.3.
The rupee had fallen to a low of 65.79 in early trade but the Reserve Bank of India's suspected intervention helped the currency recover to a day's high of 65.59, news agency Press Trust of India (PTI) reported.4.
State-owned banks and private lenders sold dollar likely on behalf of the central bank to stem weakness in the local currency, PTI said citing a forex dealer.5.
Losses in the domestic stock markets, where benchmark indices Sensex and Nifty broke their nine-session winning streak, dragged the currency lower.6.
Rising crude prices in the international oil market also weighed on the rupee.
Rising crude oil prices - which are in dollars - make import of the commodity more expensive for domestic oil refiners.
This pushes up the demand for dollar, making the US currency stronger against the rupee.7.
Oil prices extended gains on Wednesday, lifted by a reported decline in US crude inventories and the risk of supply disruptions, news agency Reuters reported.8.
Brent crude oil futures rose 87 cents to $72.45 a barrel by 1143 GMT (5:13 pm in India), while US WTI crude futures rose 95 cents to $67.47.9.
According to provisional exchange data, foreign investors pulled out Rs 915.71 crore from capital markets on Wednesday.10.
India's trade deficit hit $13.69 billion in March, climbing from $11.98 billion in February.
Exports during March inched lower by 0.66 per cent to $29.11 billion from $29.30 billion worth of merchandise shipped out during the corresponding month last year, official data showed on Friday.(With agency inputs)