The Indian rupee declined for the third consecutive session on Wednesday, falling 39 paise to close at 93.83 (provisional) against the US dollar, as fading hopes of a US–Iran peace deal kept geopolitical concerns elevated and pushed crude oil prices higher.
Forex traders said heavy selling in domestic equities and continued foreign fund outflows further pressured the currency.
In the interbank market, the rupee opened at 93.69 and slipped to an intraday low of 93.87, inching closer to the 94 per dollar mark last seen in March.