The Indian rupee depreciated by 16 paise to 76.72 against the US dollar (20.9 against the UAE dirham) today. At the Interbank Foreign Exchange (Forex) market, the rupee depreciated to 76.69 against the US dollar in early trade at the Interbank Foreign Exchange. The rupee had closed at 76.56 against the dollar in early trade on Tuesday.
The dollar, which measures the strength of the greenback, rose 0.05 percent to 102.34. Reliance Securities senior research analyst Shriram Iyer said the rupee had weakened against the dollar on Wednesday as the US currency continued to appreciate.
At the Indian equity market, the 30-share Sensex was down 392.12 points, or 0.68 per cent, at 56,964.49, while the broader NSE Nifty was down 126.25 points, or 0.73 per cent, at 17,074.55. Brent crude futures rose 0.27 percent to $ 105.27 a barrel.