At the interbank foreign exchange, the rupee opened at 83.33 against the dollar and touched an early low of 83.34 in initial trade, registering a fall of 5 paise over its previous close. It was later trading at 83.31 against the American currency.
On Tuesday, the rupee recovered from all-time low levels and appreciated 32 paise to close at 83.29 against the US dollar.
"The Indian rupee is expected to be in a range with 83.40 being the
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.38, higher by 0.08 per cent.
Brent crude futures, the global oil benchmark, fell 0.90 per cent to USD 85.47 per barrel.
In the domestic equity market, the 30-share
On the macroeconomic front, India's current account deficit narrowed to USD 10.5 billion or 1.2 per cent of GDP in the October-December quarter as against USD 11.4 billion or 1.3 per cent in the preceding three months ending September, the Reserve Bank said on Tuesday.