Meanwhile, the US dollar index, which measures the greenback's strength against the basket of six currencies, fell 0.37 per cent to 96.15
Treasury yields remained elevated, while gold gained along with crude oil
The rupee had closed near this level on April 24, 2020, previously
Business Standard brings you the top stories on Wednesday
The rupee declined 22 paise and slipped below the 76 per US dollar level in opening trade on Wednesday as persistent foreign fund outflows and Omicron worries kept the pressure on the local unit
The dollar index which measures the greenback against six major peers was at 96.557, having gained 0.5% so far this week in choppy trading
Brent crude futures fell 69 cents, or 0.9%, to $73.70. U.S. West Texas Intermediate (WTI) crude futures settled down 56 cents, or 0.8%, at $70.73.
The rupee declined by 17 paise to 75.95 against the US dollar in opening trade on Tuesday, as muted domestic equities and persistent foreign fund outflows weighed on the local unit
The dollar traded near a one-week high versus a basket of major rivals on Tuesday, supported by expectations of a hawkish Federal Reserve meeting this week
The dollar was quiet at the start of a week in which central bank meetings, including by the Federal Reserve, will likely drive currency markets
The dollar weakened and a gauge of global equity markets edged higher on Friday after data showed consumer prices rose as expected in November
The data, along expected lines, puts added pressure on policymakers to withdraw pandemic-era stimulus at a faster pace in coming months
The dollar held its ground on Friday as traders prepared for U.S. inflation figures later that could cement the course of interest rate rises next year, while the Chinese yuan regained its footing
The euro, seen as vulnerable from US hikes especially if European rate rises lag behind, dropped 0.4% overnight and was under pressure in Asia at $1.1293
Asian shares slipped and the dollar held firm on Friday as traders edged away from riskier assets amid renewed concerns about Covid and ahead of key US inflation data
Investors were also awaiting U.S. inflation data on Friday that could set the tone for the Federal Reserve's strategy on interest rate hikes.
Meanwhile, oil prices were lifted by optimism that the Omicron mutation might not have a significant impact on oil demand
Some of the fears around the Omicron variant ebbed after BioNTech and Pfizer said three shots of their COVID-19 vaccine neutralised it in a laboratory test.
Unabated foreign fund outflows weighed on investor sentiments, traders said
The dollar index , which measures the greenback against six major peers, slipped 0.4% to 95.854. The index remains close to the 16-month high hit late last month