The rupee weakened further by 13 paise to 63.59 against the US dollar as China turmoil spooked investors.
Besides, the tumbling local equity markets made the rupee depreciate further, forex dealers said.
In overseas trade, the dollar slipped against a basket of other major currencies on Wednesday, pressured lower by the stronger yen and fresh hopes for a Greek deal. Euro Zone officials gave the country till Thursday to come up with fresh proposals to secure a deal.
The local currency resumed lower at 63.54 against Tuesday’s closing level of 63.46 at the Interbank Foreign Exchange (FOREX) market.
The rupee drifted to hit a fresh intra—day low of 63.64 following robust dollar demand from importers and a fall in local stocks, before finishing at 63.59, registering a loss of 13 paise.
Meanwhile, the BSE Sensex declined by 483.97 points or 1.72 per cent to 27,687.72 today.