The Indian rupee fell against the US dollar, dragged down by selling pressure in domestic equity markets. Domestic bond yields also spiked after government announced aggressive borrowing plan for the first half of this year.
The rupee fell to 76.11 at day's low after opening weaker at 76.05 per US dollar. The rupee had settled at 75.60 against the US dollar on Tuesday.
Forex markets in India were closed on April 1 for the annual closing of banks and on April 2 on account of Ram Navami. Domestic stock market index Sensex was down about 300 points today weighed down by selling pressure from foreign investors, who moved out record money out of Indian markets in March.