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The rupee depreciated by 11 paise to close at 68.82 against the US dollar on Wednesday due to foreign fund outflows and rising crude oil prices.
Forex traders said cautious trading in the domestic equity markets also weighed on the local unit. However, weakening of the greenback vis-a-vis other currencies overseas supported the rupee to some extent.
At the interbank foreign exchange (forex) market, the domestic currency opened at 68.69 per dollar, but lost ground during the day and finally settled at 68.82, down 11 paise over its previous close.
The rupee had settled at 68.71 against the US dollar on Tuesday.
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