The Indian rupee was trading lower against greenback on Wednesday due to surge in dollar demand by importers and banks as well as fund outflows. At the Interbank Foreign Exchange Market, the local currency was trading 10 paise lower at 63.94 per dollar against a previous close of 63.84 per dollar (at 12:55 hours).
During the day’s trade so far, the rupee touched an intra-day low of 63.97 after opening at 63.78. Adding to it, bearish trend in the domestic equity market also dented sentiment at local forex market. The 30-share benchmark index was trading at 34361.57, down by 81.62 points or by 0.24 per cent, and the NSE Nifty was at 10603.25, down by 33.75 points or by 0.32 per cent.