Indian Rupee weakened against the US dollar on Wednesday tracking strengthening of American currency overseas ahead of the minutes from the Fed's June meeting due out later today. Moreover, rising crude oil prices and volatility in domestic equities also weighed on rupee sentiment. Foreign institutional investors were net sellers as they offloaded shares worth Rs 543.30 crore in the capital market on Tuesday, exchange data showed.
The partially convertible currency is currently trading at 74.74, weaker by 19 paise from its previous close of 74.55 on Tuesday. The currency touched a high and low of 74.7825 and 74.5900 respectively.