Indian Rupee declines 7 paise to close at 75.03 against US dollar

The rupee weakened by 7 paise to end at 75.03 against the US currency on Wednesday, weighed down by a muted trend in domestic equities and strength of the American currency in the overseas market. At the interbank foreign exchange market, the local currency opened at 75.02 and later witnessed a high of 74.90 and a low of 75.05 against the US dollar in the day trade.
The local unit finally settled at 75.03 a dollar, down 7 paise over its previous close. On Tuesday, the rupee had settled at 74.96 against the US dollar. Brent crude futures, the global oil benchmark, declined by 1.08 per cent to USD 85.47 per barrel. On the domestic equity market front, the BSE Sensex ended 206.93 points or 0.34 per cent lower at 61,143.33 while the broader NSE Nifty declined 57.45 points or 0.31 per cent to 18,210.95.