However, a weakness in the US dollar against some currencies in the global market and a higher opening of the domestic equity market restricted the fall, dealers said.
On Tuesday, the rupee had dropped by 32 paise to close at 68.06 against the US currency on month-end dollar demand from importers and banks amid persistent foreign capital outflows.
Meanwhile, the benchmark BSE Sensex was trading higher by 70.16 points, or 0.26 per cent, at 26,283.60 in morning trade.
PTI