The Indian rupee weakened against the U.S. dollar on Wednesday on the back of higher oil prices, weak non-deliverable forwards, a steady greenback, and elevated U.S. treasury yields.
The local currency depreciated 5 paise to open at 82.24 against the greenback. It closed at 82.19 on Tuesday.
Rupee depreciated 15 paise to close at 82.34 against the greenback.
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Weakness in emerging market currencies and month-end dollar demand from corporates and oil importers will weigh on sentiment, according to Reliance Securities.
"Supports for the dollar-rupee spot pair are at 82.15 and 82.08, while the resistances are at 82.32 and 82.46," Reliance Securities said.
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