The currency depreciated 21 paise in the morning session to trade at day’s low level of 69.17 against the dollar on Wednesday.
On Tuesday, the currency depreciated 43 paise to close at 68.96/$. The domestic unit opened at 69.11/$ compared to its previous close of 68.96/$.
At 2:30 PM, IST, the home currency was trading at 68.90/$.
The appreciation could be attributed to a sharp rally in the equity market, which led to higher foreign inflows. In Tuesday’s trading session, FIIs bought 2,132cr worth of stock in cash, whereas DIIs sold 1,254cr worth of stock. In the derivative market, FIIs bought 288cr of Index futures and bought 554cr worth of Index options.
Meanwhile, equity benchmark indices were trading in the green with the Sensex gaining 81 points at 38,445 levels. The Nifty also rose 8 points to trade at 11,540 levels.